3rd Sep 2025 09:49
(Alliance News) - Vulcan Two Group PLC on Wednesday began trading on AIM after raising GBP12 million in its initial public offering, as the company looks to build a regulated e-pharmacy platform in the UK.
The London-based investment company, which focuses on acquiring and consolidating e-pharmacy businesses, said its 6.8 million shares were admitted to trading under the ticker 'VUL', giving it a market capitalisation of GBP13.6 million at the issue price of GBP2.00 per share.
Shares in Vulcan Two were quoted at 212.50 pence in London on Wednesday morning.
The fundraising included GBP10.5 million from institutional investors and GBP1.5 million from a direct subscription. Net proceeds will be used for working capital, due diligence on potential acquisitions, part-financing deals, and repaying some existing debt.
Chief Executive Officer Michael Kraftman said: "We are delighted to join AIM today and deeply appreciate the strong support we have received from our investors. This milestone marks the beginning of an exciting new chapter as we work to build the UK's leading regulated ePharmacy platform."
Vulcan Two is led by CEO Michael Kraftman and Chief Operating Officer Brendan O'Brien, who built and sold Vision Direct, an online contact lens supplier. Prior to the listing, the pair own 60% and 40% of Vulcan Two, respectively.
Canaccord Genuity Ltd acted as nominated adviser and sole broker.
By Eva Castanedo, Alliance News reporter
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