London Stock Exchange today welcomed Luceco to the Main Market
London Stock Exchange today welcomed Luceco to the Main Market.
Luceco is a rapidly growing manufacturer and distributor of high quality and innovative LED lighting products and wiring accessories. Luceco supplies a global customer base of trade distributors, retailers, wholesalers and project developers through its recognised brands Luceco, British General, Masterplug and Ross. It has a consistent track record of innovative product development and has generated significant growth in profits and revenue.
It is hoped that the Luceco’s listing on the Main Market will help to boost its profile and provide financial and operational flexibility to allow Luceco to continue to execute its growth strategy.
The Offer of 71,629,400 ordinary shares at 130 pence per share represents approximately 44.5% of the Company’s issued share capital on Admission, with a market capitalisation of £209 million. The Offer is expected to raise gross proceeds of £26 million for the company and £67 million for its shareholders, EPIC Private Equity (who first invested in Luceco in 2005) and management.
John Hornby, Chief Executive of Luceco, commented: “This IPO represents a significant landmark in Luceco’s history and I am delighted to welcome our new shareholders to the register.”
Numis Securities Limited