SimplyBiz is set to float on the London Stock Exchange with a market capitalisation of £130m.
The compliance and support services business said it had raised £30m from an institutional placing of ordinary share at 170p and £34.6m for selling shareholders through an institutional placing. The float is set to take place on 4 April. Zeus Capital is acting as nominated adviser and sole broker to the company. Joint chief executives Matt Timmins and Neil Stevens have been running the business since 2010. Over this period revenues have grown 366% from £12m to £44m. Timmins (pictured) said: "Our business has evolved significantly since 2002 and we are now the UK's leadi...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
