London Stock Exchange today welcomed Eurocell PLC
London Stock Exchange today welcomed Eurocell PLC on the first day of conditional dealings in the Company’s shares following its successful IPO.
Eurocell is a leading, business to business, vertically integrated manufacturer and distributor of innovative window, door and roofline PVC products. The Group has its own branch network throughout the UK (currently 131 branches). The Group primarily supplies the UK repair, maintenance and improvement (‘RMI’) market as well as the new build and public sector markets. The Directors believe the Group is a top three manufacturer of both rigid and foam PVC profiles supplying the window, door and roofline industries.
Eurocell is a leading brand in the UK for window, door and roofline products. Its product range of extruded profiles are used in windows, bi-fold doors, patio doors, conservatory roofs, cavity closer systems and trims. In addition it operates what the Directors believe is an industry leading recycling plant, demonstrating its commitment to a sustainable future for its products.
The initial public offer priced at 175 pence per share, giving the business a market capitalisation of £175 million at admission.
Eurocell will be admitted to the premium listing segment of the Official List and to trading on the Main Market, and the commencement of unconditional dealings is expected to take place at 8.00am on 9 March 2015 under the ticker ECEL.
Patrick Bateman, Chief Executive of Eurocell, said: "We are delighted to be joining the London Stock Exchange following the successful completion of our initial public offering. We have a clear strategy to drive future growth and look forward to welcoming our new shareholders as we continue our exciting journey.”
H2 Equity Partners remains a significant shareholder in Eurocell PLC post the IPO. Canaccord Genuity is acting as Sponsor and Sole Bookrunner. Peel Hunt is acting as Co-Lead Manager. Rothschild is acting as Financial Adviser. Pendomer is the financial PR adviser.