5th Dec 2025 09:49
(Alliance News) - Mayflower Acquisition Ltd on Friday began trading on the London Stock Exchange's Main Market after raising GBP500 million in its initial public offering.
British Virgin Islands-based Mayflower, which is listed under the ticker MAY, was formed with the purpose of undertaking an acquisition of a target company or business.
The company was founded by Toms Capital Investment Management LP's Chief Executive Noam Gottesman, as well as Jeremy Isaacs - who was a former chief executive of Lehman Brothers in Europe, Middle East and Asia - and Roger Nagioff, who, like Isaacs, is a founding partner at JRJ Group Ltd.
The company said it raised USD500 million through the placing of ordinary shares at a price of USD10.00 and a further USD5.3 million through the subscription of founder preferred shares.
Mayflower said the offering will enable the company to pursue its objective of acquiring a target company or business. Any funds left over will be used for future acquisitions, the company said.
"The directors believe that the current dislocation of public and private capital markets will create attractive acquisition opportunities that positions the company as a compelling partner for potential target companies or businesses," Mayflower said.
Conditional dealings of shares on the Main Market kicked off on Friday, before unconditional dealings start on Wednesday.
Shares in Mayflower were flat at USD10.00 on Friday morning in London.
By Roya Shahidi, Alliance News reporter
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