Peel Hunt LLP Update
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London broker Peel Hunt will be unveiled following a pandemic trading and trading boom.
The company, which deals with small businesses, said on Tuesday that the initial public offering would take place in London later this month to support expansion plans, including expansion into Europe.
Peel Hunt joins many clients who have jumped into the open market during this year’s list surge. The company, which is the mainstay of city deal making, Trading boom During the pandemic, the group was in a hurry to support their finances and attack their rivals.
Founded in 1989, Peel Hunt’s revenue increased from £ 96m to £ 197m in the year to March 2021. The company said it promoted 47% of UK retail stock trading during the year.
Stephen Fine, Chief Executive Officer, said:
Peel Hunt plans to establish a physical presence in Europe in the first half of 2022 and expand its business in New York. The IPO also said it would provide cash to invest in technology.
Peel Hunt not only assists clients in trading, but also provides corporate brokerage, investment banking, and research. With 157 corporate customers and an average market capitalization of £ 775m, the survey is directed to 1,200 institutions.
Currently, the majority of employees own it. Staff and other investors acquired the company from the Belgian bank KBC 11 years ago.
The business continued to grow during the pandemic as companies raised cash to survive the blockade and then competed to increase their ability to take advantage of the recovery.
The M & A boom during the crisis contributed to the bumper period of others Companies that support transactionsIncludes lawyers and accountants. Investment banks are also reporting a surge in takes.
This month’s list is the second time Peel Hunt has been traded on Aim. The company emerged in February 2000, but was acquired by KBC 10 months later.
“The group has grown significantly as a private sector and now is the right time to return to the public market,” said Simon Hayes, Chairman of Peelhunt.
The company also appointed former UBS head of equity and capital markets Lucinda Riches as a non-executive director on Tuesday, saying she will take over as chair next year.
Broker Peel Hunt to float after pandemic boom in trading Source link Broker Peel Hunt to float after pandemic boom in trading