UK accounting firm MHA Plc (LSE:MHA) made its AIM market debut on Tuesday with a £271 million valuation.
The shares moved to a modest first-day small premium.
MHA raised £98 million through the listing, selling shares priced at 100p, providing capital for a growth plan that will include investment in AI and bolt-on acquisitions.
It is planning a phase of growth that will see it become a ‘top 10’ accountancy, targeting annual revenue of £500 million in ‘the medium term’.
"MHA is a successful and growing business … our admission to the market marks the next exciting stage in our evolution,” MHA chair Geoff Barnes said in a statement.
“To have delivered such a strong fundraising outcome in the face of recent market volatility speaks to the quality of the business, the support of a highly engaged institutional investor base, and the determination of our management team and advisers, led by Cavendish.”
Barnes added: “Against a backdrop of rising demand for high-quality advisory services and increasing regulatory complexity, we believe we are well placed to build on the strong momentum we have established in recent years.”
In London, MHA shares were priced at 101.5p in Tuesday’s dealing.