logo-loader

Administrator FRP Advisory to float on AIM with £190mln market value

The company will raise £60mln by selling existing shares owned by management, and £20mln with new issues

FRP Advisory

The administrator of bust bakery chain Patisserie Valerie is to list on AIM next month bagging directors and partners £60mln in the process.

FRP Advisory Group PLC, which worked on the administration of clothing firm and retailer Aquascutum, is also raising £20mln in new money with the firm to be valued in total at £190mln.

Chief executive Geoff Rowley and fellow senior executive Jeremey French founded the firm in 2010 and will own 50% of the shares once the firm lists.

FRP Advisory will be AIM’s largest listing so far this year and the ten-year-old company said the offer was oversubscribed and has attracted support from “high quality” institutional investors.

“The initial public offering represents an important next step in our development, which will further enhance our profile and ongoing growth,” said Rowley.

“There are a range of exciting growth opportunities as we continue to grow our office footprint and attract new talent.”

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: CytoDyn's therapy used to treat New York coronavirus...

CytoDyn Inc (OTCMKTS:CYDY) CEO Nader Pourhassan tells Proactive the biotech shared positive test results today from seven coronavirus (COVID-19) patients who were treated with the company’s drug leronlimab at a leading medical center in the New York City area. Pourhassan, together diagnostics...

1 day, 3 hours ago

2 min read