Public Policy Holding Company, Inc shares got off to a good start as they began trading on the AIM market of the London Stock Exchange today.
The full-service US lobbying and government affairs group raised £30.7mln from its initial public offering (IPO), giving it a market capitalisation of £146.1mln.
With the shares priced at 135p each in the IPO they quickly climbed to 140p in the first day’s dealings.
PPHC’s group of companies claims to work with over 500 corporate clients, institutions and coalitions to “define and advance policy goals, manage risk, shape public opinion, and orchestrate issue advocacy campaigns on their behalf”.
The company said it aims to use the IPO proceeds to accelerate growth and hirings, as well as repaying debt.
Stewart Hall, chief executive officer of PPHC, said, "Admission to AIM will support the next phase of our development as we scale the business and continue to deliver strong, profitable growth.”