SimplyBiz floats on AIM at expected £130m

The financial adviser support company's entire issued ordinary share capital - 76,470,588 ordinary shares - this morning on the AIM market of the London Stock Exchange under the ticker SBIZ. It is expected to have a market capitalisation of £130m on admission. SimplyBiz has previously said it raised £30m from an institutional placing of ordinary share at 170p and £34.6m for selling shareholders through an institutional placing. Zeus Capital acted as its nominated adviser and sole broker on the company's placing and IPO. Joint chief executives Matt Timmins and Neil Stevens have been ru...