7th Jul 2015 10:02
LONDON (Alliance News) - Kainos Group PLC announced Tuesday the pricing for its upcoming initial public offering on the London Main Market, saying it will raise GBP52.4 million in the transaction.
The IT services, consulting and software company said it will issue 37.7 million shares at 139 pence per share, raising a total of GBP52.4 million for the selling shareholders. Its market capitalisation will be GBP161.3 million upon the start of dealings, which are set to start on Friday.
Investec is working as the sole sponsor, financial adviser, bookrunner, underwriter and broker on the deal.
"All of us at Kainos are delighted with the response we have seen to our IPO. The recognition investors have shown towards our business, our services and our leading position stands as testament to the hard work and commitment of our international team. The task for us now is simple - to maintain our growth trajectory," said Chief Executive Brendan Mooney.
By Sam Unsted; [email protected]; @SamUAtAlliance
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