2nd Mar 2015 11:41
LONDON (Alliance News) - Shares in Hungarian low-cost airline Wizz Air Holdings PLC soared Monday on their first day of trading on the London Main Market, as UK farming company Greenshields Agri Holdings PLC said it intends to float on AIM.
Shares in Wizz Air were up 16% on Monday to 1,330.00 pence, having floated at 1,150 pence.
Elsewhere, Greenshields Agri said it intends to raise around GBP3 million via a listing on AIM, which it will use to acquire additional farmland in the Northern Grain Belt, arable farm land stretching up the east coast of the UK.
Greenshields produces grain from over 3,500 acres of farmland in the Northern Grain Belt, of which over 2,850 acres are owned it. The company said it will be the only UK publicly traded company providing investors with access to UK farmland ownership and an established arable farming business. It said it will buy another 220 acres of farmland in Northumberland upon its admission to AIM.
The company did not provide any information on the number of shares it intends to issue or the price it will issue those shares at.
"Admission to trading on AIM would give Greenshields an excellent currency with which to expand its operations through acquisition of additional farmland and investment in equipment, crop production and income diversification," said Chief Executive Officer Bill Boase.
By Sam Unsted; [email protected]; @SamUAtAlliance
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