Shares in Middlesborough football club sponsor Ramsdens Holdings PLC (LON:RFX) started trading on AIM this morning following a stock market float that valued the firm at £26.5mln.
The pawnbroking group, which is the shirt sponsor for the under-pressure Premiership football team, was looking to raise £15.6mln through an initial public offering, with the offering’s shares priced at 86p each.
In opening trading, Ramsdens shares scored an early premium, changing hands at 90p each.
Ramsden’s private equity owner, NorthEdge Capital, is retaining a 31% stake in the firm, having previously owned 73.9%.
The pawnbroker and financial services firm has 127 stores in the UK offering foreign currency exchange, pawnbroking loans, and precious metals purchasing, as well as new and second hand jewellery selling.