8th Jul 2021 13:50
CMO Group PLC - online building materials retailer based in Plymouth, England - Shares rise 19% to 157.50 pence as they start trading on the AIM market in London on Thursday. CMO raised GBP45 million from a placing of 34.1 million shares, priced at 132p each. CMO Group had a market capitalisation of around GBP95 million at the IPO price and around GBP113.1 million at the current share price.
CMO Group is an online-only retailer of building materials, with seven specialist websites offering 75,000 products for tiling, roofing and drainage.
Chief Executive Dean Murray says: "The business has grown rapidly taking advantage of its innovative and differentiated model providing today's internet savvy customer with the broadest range of product at highly competitive prices, delivered conveniently and efficiently. A successful completion of our IPO and admission to trading on AIM is an exciting next step on our growth journey."
Current AIM stock price: 157.50p on Thursday afternoon
By Scarlett Butler; [email protected]
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