London Stock Exchange welcomes Ramsdens Holdings PLC to AIM
Ramsdens Holdings Plc (‘Ramsdens’) (TDIM: RFX), the diversified financial services provider and retailer, today opened the markets of London Stock Exchange to celebrate the company’s first day of trading on the AIM market.
Ramsdens joins AIM having successfully raised £15.6 million (before expenses) with institutional investors. The company’s market capitalisation was £26.5 million on Admission.
Ramsdens is a growing, diversified, financial services provider and retailer, operating in the four core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second hand and new jewellery. Headquartered in Middlesbrough, and from roots that can be traced back to the 1970s, the Group operates from 127 stores within the UK and has growing online presence. In the last financial year, the Group served over 700,000 customers across its different services. Ramsdens is fully FCA authorised for its pawnbroking and credit broking activities.
Post IPO, the Directors believe that Ramsdens can leverage its existing strengths of a diversified product offering and a recognised brand and the solid financial position of a strong balance sheet and positive cash flows, to continue to grow the business both organically and through acquisition.
Liberum acted as nominated adviser, sole bookrunner and corporate broker to the Company.
Peter Kenyon, Chief Executive Officer, said:
“We are delighted to join the AIM market of London Stock Exchange, which we believe will provide an excellent platform for Ramsdens’ continued growth.
"Ramsdens is an established, diversified and cash-generative business with an experienced leadership team and a recognised and trusted brand. With our large, growing and repeat customer base and clear growth opportunities we look forward to creating value for existing and new shareholders as a public company.”