Peel Hunt LLP, the UK mid and small-cap specialist investment bank, is to list its shares on AIM.
Admission is expected to take place on or around 29 September. In conjunction with a placing of its ordinary shares, the company will be conducting intermediaries and employees offers.
Established in 1989, as at the end of last month the group had 157 corporate clients with an average market capitalisation of around £775mln.
The group also has a trading platform that makes markets in over 10,000 instruments in 38 markets and is an increasingly important provider of trade execution services to the UK retail platforms and brokers, Peel Hunt said.
In the financial year ended 31 March 2021 |(FY21), 47% of all retail trade value in the UK was dealt on its trading platform, up from 19% four years earlier.
In FY21, the group’s revenues more than doubled to £196.8mln from £95.5mln the year before.
"Having expanded significantly over the last ten years, Peel Hunt is now well established as a leading UK mid and small-cap focused investment bank. The IPO [initial public offering] represents an important milestone in our journey and allows us to accelerate our growth plans, building on the strong momentum in our business,” said Steven Fine, the chief executive officer of Peel Hunt.
The company also announced that Lucinda Riches will be joining the board as a non-executive director with the intention that she will take over from Simon Hayes as chair next year. Riches is currently a non-executive director at Ashtead Group (LSE:AHT) PLC and was previously global head of Equity Capital Markets and a member of the board of UBS Investment Bank.