IT group Softcat to raise £153.4mln in market listing

The offer price will be 240p per share, valuing the company at £472.3mln

Founders, management and staff will sell about a third of the company

IT group Softcat is raising about £153.4mln in an initial public offering on the London Stock Exchange.

The founders of Softcat, senior members of the management team, and certain current and former staff will sell shares worth about 32.5% of the company's issued share capital.

The offer price will be 240p per share, leaving the company with a market capitalisation of £472.3mln.

Softcat is expected to list on the market on November 18.

It also said it had appointed Vin Murria to its board of directors as an independent non-executive director.

Murria has significant experience in the IT services market and is also a non-executive director at propertry group Zoopla and Greenko.

Softcat chief executive Martin Hellawell said: "The successful pricing of our initial public offering on the London Stock Exchange reflects the very positive response we have received from institutional investors as we have shared our equity story in recent weeks.

"We are delighted with the outcome of the IPO process thus far and now look forward to fully focusing on the running and future development of our business."

Quick facts: Softcat

Price: 1158 GBX

Market: LSE
Market Cap: £2.3 billion

Add related topics to MyProactive

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


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...



Inspired Energy raises up to £35mln in placing and open offer and fully...

Inspired Energy PLC's (LON:INSE) Mark Dickinson speaks to Proactive after announcing they've raised £35mln and struck a deal to acquire the 60% of Ignite Energy that it does not already own. Dickinson says the acquisition will accelerate the group's organic growth in optimisation services. In an...

1 day, 12 hours ago

2 min read