Portfolio

Brickability floats on AIM with second-largest market cap of 2019

By Iain Gilbert

Date: Thursday 29 Aug 2019

Brickability floats on AIM with second-largest market cap of 2019

(Sharecast News) - Shares of British building trade supplier Brickability were admitted to trading on London's Alternative Investment Market on Thursday after it raised £57m in its initial public offering.
Brickability's successful IPO, led by Cenkos Securities, saw the group issue 87.27m new ordinary shares of 65p each, giving the company a market capitalisation of £150m - the second highest market cap among AIM IPOs so far this year.

The firm's newly issued shares represent 37.9% of its entire issued share capital.

Chief executive Alan Simpson said: "We are very pleased with the level of interest generated from new institutional investors in support of our admission to trading on AIM.

"The move to AIM and the additional funding will allow us to continue our growth trajectory through further organic growth and through accretive bolt-on acquisitions."

As of 0930 BST, Brickability shares were up 4.6% at 68p.

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