London Stock Exchange welcome GYG plc to AIM
London Stock Exchange today welcomes GYG plc, a market leading superyacht painting, supply and maintenance company to celebrate the listing of the Company’s public shares onto the AIM Market of the LSE. The Company’s ordinary shares will trade under the AIM ticker GYG.
With 46,640,000 Ordinary Shares in issue at 100 pence per ordinary share, the Company will have a market capitalisation of approximately £46.6 million on Admission.
The Company has successfully raised £6.9m and the Admission to AIM will provide the business with increased reputation and profile, the ability to incentivise key employees and the ability to use AIM quoted shares as currency for future acquisitions.
GYG is a market leading superyacht painting, supply and maintenance company, offering services globally through operations in the Mediterranean, Northern Europe and the United States. The Company’s brands include Pinmar, Rolling Stock, Pinmar Supply, Pinmar USA, Techno Craft and ACA Marine. GYG’s operations can be divided into three key sales channels: refit (repainting and finishing of superyachts, normally as part of a refit programme), new build (fairing and painting of new vessels as part of the build process); and supply (the selling and delivery of maintenance materials, consumables, spare parts and equipment primarily to trade customers.)
Remy Millott, Chief Executive of GYG plc, commented:
"We are delighted to announce the pricing of our IPO and forthcoming admission to AIM. Today represents an important milestone in GYG's history and becoming a public company will further enhance our position as a market leading superyacht painting, supply and maintenance company.
"We have been very pleased with the level of demand we have received from investors and would like to welcome our new shareholders to our register as well as thanking our existing investors for their continued support. The superyacht market is growing and resilient and I am very excited about the next stage of our journey as we continue to grow our global offering."
Zeus Capital is acting as Nominated Adviser and Broker to the Company and FTI Consulting as Financial PR.
Additional information is available on the Company’s website: www.globalyachtinggroup.com