30th May 2014 12:02
LONDON (Alliance News) - P2P Global Investments PLC and Clipper Logistics PLC both saw their shares rise as dealings started on the London Stock Exchange Friday, while Blue Inc became the latest retailer to say it intends to list in London this year.
P2P closed its placing and intermediaries offer on Wednesday, ahead of its admission. It had offered 20 million shares at 1,000 pence a share, giving it an initial market capitalisation of GBP200 million. However, it shares were trading at 1,045 pence Friday afternoon.
The company will invest in online and peer-to-peer lending, a small, but fast-growing part of the global financial system. It gathered pace in the wake of the financial crisis as traditional lenders restricted their lending as they turned their attentions to shoring up their balance sheets. It is now regulated in both the US and UK.
Retail logistics company Clipper, meanwhile, placed 49.9 million shares at 100 pence each in its IPO. It has 100 million shares in issue in total, giving it an initial market capitalisation of about GBP100 million. However, the stock was trading at 112 pence in early conditional dealings. Unconditional dealings will start June 4.
Clipper, which was founded in 1992 by the company's current chairman, Steve Parkin, helps UK retailers with logistics and their online operations. Its customers include ASOS, Tesco, Asda, Wm Morrison Supermarkets, SuperGroup and The John Lewis Partnership. The company also has a small German operation.
It now wants to raise money to expand further, taking advantage of increased internet shopping.
Parkin will remain Clipper's biggest shareholder after the IPO, with a 34.8% stake. Other directors will hold 10.6%.
Blue Inc, meanwhile, said it will seek to raise up to GBP15 million when it floats on AIM. It will use the money to roll out a new store format, expand the number of stores, boost marketing of its online platform, and to negotiate better supplier terms.
The company makes value fashion aimed at males under the age of 25. It has 240 UK stores and five overseas franchise stores, and reported revenue of GBP98.7 million and earnings before interest, tax, depreciation and amortisation of GBP4.5 million in 2013.
It plans to open a further 12 Blue Inc and Officers Club stores by the end of 2014 and relocate and/or refurbish 16 existing Blue Inc and Officers Club stores.
Meanwhile, Romanian electricity distributor and supplier Electrica SA, which is being privatised by the Romanian government, said it intends to list global depository receipts in London at the same time as it lists shares on the Bucharest Stock Exchange. It will use the proceeds of the offerings to invest in the modernisation of its network.
By Steve McGrath; [email protected]; @SteveMcGrath1
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