Shares in DSW Capital PLC (AIM:DSW), a professional services firm, jumped higher after floating on AIM today.
DSW carried out a £5mln placing as part of its initial public at a price of 100p per share, and the shares rose to 116.5p by lunchtime on their first day of trading.
Operating primarily under the Dow Schofield Watts brand, the group describes itself as “a profitable, fast growing, mid-market, challenger professional services network, with a cash generative business model and scalable platform for growth”.
DSW currently operates licensing arrangements with 19 licensee businesses, with 82 fee earners across six offices in England and one in Scotland.
Shore Capital acted as nominated adviser, sole bookrunner and sole broker in relation to the admission and placing, and will act as nominated adviser and sole broker to the company following admission.