London Stock Exchange today welcomes Ten Entertainment Group
London Stock Exchange today welcomed Ten Entertainment Group, the UK’s second largest and fast growing tenpin bowling operator, to celebrate its recent admission to the premium segment of the Official List of the FCA and to trading on the London Stock Exchange's main market for listed securities.
Ten Entertainment Group, trading under the ticker “TEG”, successfully raised £26.8 million from a range of blue-chip investors. The fundraising diversifies the shareholder base and importantly provides Ten Entertainment Group with future access to the capital markets.
The Company operates 40 sites throughout the UK, all trading under the ‘Tenpin’ brand, providing approximately 1,000 bowling lanes ,a variety of other great value family entertainment activities and entertaining approximately 5 million people each year. Employing approximately 1,100 people, Ten Entertainment Group has strong market position in a growing segment of the family entertainment industry with a robust and proven operating model and clear growth trajectory driven by a sustainable and achievable strategy.
Nick Basing, Non-Executive Chairman, said: "Ten Entertainment Group’s successful listing represents a springboard for the Company to take advantage of the opportunities ahead. I would like to welcome our new shareholders who recognise our leading and differentiated proposition and the strength of our business model.”
Alan Hand, Chief Executive Officer, said: “Our family focused offering provides great value entertainment in great locations, delivered with exceptional customer service. Ten Entertainment Group’s experienced management and highly cash generative operating model together with a clearly defined growth strategy will enable us to deliver sustainable and growing returns for shareholders. We look forward to the future with real confidence."
Numis Securities Limited acted as sole sponsor, financial adviser and bookrunner. Instinctif Partners acted as Financial PR. BDB LLP and BLP LLP acted as legal counsel.