London Stock Exchange today welcomes Softcat plc to the Main Market

London Stock Exchange today welcomes Softcat plc to the Main Market

The Main Market of London Stock Exchange today welcomed Softcat plc as it commenced unconditional dealings in its shares following its initial public offering (the "IPO").

Headquartered in Marlow, and joining the premium listing segment of the Official List of the FCA, Softcat provides corporate and public sector organisations with IT infrastructure solutions, including the products and services needed to design, implement, support and manage these solutions, on premise, in the cloud or both.

Softcat has successfully evolved from a software licensing reseller to now offer a broad range of products and services for its customers' workplace technology, datacentre infrastructure and networking and security requirements, significantly increasing its addressable market.

Softcat has over two hundred vendor partners, either direct or through their distributors, including Apple, Cisco, Citrix, Dell, HP, Lenovo, Microsoft, Mimecast, Snow, Sophos, Symantec, Veeam and VMware, helping its 11,000+ customers reduce the complexity, burden and cost of managing their IT infrastructure needs.

Softcat’s growth is attributed to its strategy to increase revenue from existing customers, and to win business from new customers, through world-class customer service and tailored IT solutions.   The IPO will help the company to enhance its profile and brand recognition with customers, vendor partners and distributors, and provide a platform from which it can pursue its growth.

Martin Hellawell, Chief Executive Officer of Softcat, said: “We are delighted to reach another major milestone in Softcat’s exciting journey, which positions the company for further growth. Softcat is very much a people business – both in terms of customers and staff – and we believe this IPO will enable us to continue to build on our unique culture and ethos, whilst evolving our customer offering and raising brand awareness.

“We want to thank the investors who have shown interest in the offer and want to welcome them as we look to take the business to the next level as a public company.”

Softcat announced the pricing of its IPO and the placing of ordinary shares at 240 pence per share.  Based on the Offer Price and the existing issued share capital of Softcat of 196,776,260  Ordinary Shares, the market capitalisation of Softcat will be approximately £472.3 million.  Jefferies and Credit Suisse are acting as joint sponsor, financial adviser, book runner, underwriter and broker to Softcat.