19th Feb 2015 14:36
LONDON (Alliance News) - Non-Standard Finance PLC, which was formed to acquire and operate one or more non-standard consumer finance businesses, began trading on the Main Market of the London Stock Exchange on Thursday, with the shares quoted at 100 pence mid-afternoon, unchanged from its placing price.
Non-Standard Finance raised GBP102 million before expenses by issuing 102.3 million new shares.
"By treating customers fairly, delivering excellent service and lending responsibly, we plan to establish a sustainably profitable group of businesses serving an important socio-demographic cluster," Chairman John van Kuffeler said in a statement.
Other companies joining the main market on Thursday are Gabelli Value Plus+ Trust PLC and Challenger Acquisitions Ltd.
Gabelli, which will invest in a portfolio of US companies and will be managed by Gabelli Funds LLC, is trading at 103.4 pence per share after raising GBP100.1 million in its IPO.
Challenger Acquisitions, which was established to undertake one or more acquisitions of target companies or businesses in the entertainment and leisure sectors, is trading up 19% at 13.7 pence per share.
The company has 11 million shares in circulation.
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