London Stock Exchange welcomes Morses Club
London Stock Exchange today welcomes Morses Club, a leading UK non-standard consumer finance company, to open trading, following its successful Initial Public Offering on the AIM market. Through the IPO, 129.5m shares were sold, raising a total of £68.5m and giving a total market capitalisation upon admission of £140m.
Morses Club is the UK’s second largest home collected credit (“HCC”) lender with approximately 200,000 customers nationwide and a management team with significant experience in UK HCC and consumer finance. It has approximately 1,840 agents across 100 locations throughout the UK.
Paul Smith, Chief Executive Officer of Morses Club, said: “This is an historic day for Morses Club and I would like to thank all those investors who have shown such confidence in us and the huge potential of our business. We are looking forward to life as a listed company.”
The joint bookrunners on the transaction are Numis Securities Limited and Panmure Gordon (UK) Limited. Deloitte Corporate Finance is Financial Adviser to the Company. Numis Securities Limited is the Company’s Nominated Adviser.