1st Feb 2022 14:01
Hercules Site Services PLC - Cirencester, England-based labour supply for UK infrastructure sector - Reduces the size of the fundraise from its initial public offering on AIM to GBP8.0 million from GBP10.0 million. Hercules will raise GBP4.0 million for the company and the same for selling shareholders, down from targets announced last month of GBP5.5 million for the company and GBP4.5 million for shareholders. The shares will be sold at 50.5 pence each, giving Hercules a market capitalisation of GBP29.6 million on admission. The IPO is led by SP Angel Corporate Finance LLP as nominated adviser and broker. Trading is scheduled to begin on Friday.
Hercules was founded in 2008 and counts construction firms Balfour Beatty PLC, Costain Group PLC and Kier Group PLC among its customers. Revenue was GBP30.7 million in 2019. This took a hit from the Covid-19 pandemic, it says, but was recovering in 2021.
By Tom Waite; [email protected]
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Related Shares:
Balfour BeattyKierCostain