23rd Mar 2016 08:33
LONDON (Alliance News) - Student accommodation developer Watkin Jones Ltd started life on AIM on Wednesday and saw its shares rise.
The company raised GBP131.3 million through the placing of 131.3 million shares at 100.0 pence per share. Shares in the company were up 3.0% to 103.0p in early dealings.
The float was handled by joint bookrunners and joint brokers Zeus Capital and Peel Hunt. Zeus is also the company's nominated adviser.
Upon admission, Watkin Jones's market capitalisation was around GBP255.0 million.
"The strong reception that the company has received from investors has been very encouraging and we are delighted with the success of our admission to AIM, which is a significant milestone in the evolution of our business. The board joins me in welcoming all of our new shareholders," said Mark Watkin Jones, the company's chief executive.
Watkin Jones is a UK-based student accommodation developer with an additional exposure to the private rented sector.
By Sam Unsted; [email protected]; @SamUAtAlliance
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