London Stock Exchange welcomes Ten Lifestyle Group plc to AIM
London Stock Exchange today welcomes Ten Lifestyle Group following its successful admission to AIM. Ten is a leading technology-enabled lifestyle and travel platform providing trusted concierge services to the world’s wealthy, from the mass affluent through to HNWIs.
Ten assists its 1.6 million registered members to discover, organise and book travel, dining and live entertainment. Through Ten's service proposition, members can achieve superior access, experiences and outcomes, more cost-effectively and conveniently than they could have achieved on their own. Ten's service is delivered through a combination of its proprietary technology-enabled platform and the expertise of its lifestyle managers.
Ten is a growing, global business that has increased net revenue at a compound annual growth rate of 29% over the last three years. In the last reported financial year, net revenue increased by 37% to £33.2 million. Ten raised £18 million valuing the Company at £108 million.
The IPO proceeds will be used for further investment in technology, content, operational infrastructure and the expansion into new markets.
Alex Cheatle, Chief Executive Officer and Co-Founder of Ten, said:
“Today is a big day for us: we have officially started trading on the London Stock Exchange and we couldn't be more excited about having reached this new milestone.
"Founded in London almost 20 years ago, we pioneered lifestyle management services to help members live the life they want to live. Since then, we have built on our success in the UK market to become an international group with 20 offices serving over 1.6 million registered members through our blue chip corporate client base and private membership.
"We've seen the market for concierge services grow significantly over recent years; we expect this growth to continue, driven by corporate clients seeking to enhance their customers' brand affinity and individual members attracted by an efficient and value-delivering service."
Jefferies International Limited acted as NOMAD and Broker, Memery Crystal acted as lawyers, and BDO LLP acted as accountants.