London Stock Exchange welcomes Kainos to the Main Market
The Main Market of London Stock Exchange today welcomed Kainos Group plc as it commenced dealings in its shares following its initial public offering (the "IPO"). Headquartered in Belfast, Northern Ireland, and joining the premium listing segment of the Official List of the FCA, Kainos is a high-growth UK-based provider of IT services and software solutions, specialising across multiple sectors in the development of digital technology solutions. Those include:
- software design and agile software development
- third-party software integration and implementation services
- technology support services
- related ancillary services such as project management
With approximately 730 staff across seven offices, Kainos operates through three divisions: Digital Services, which delivers full system developments of customised online digital solutions; Evolve, the UK market leader in the digitisation of patient notes in the Acute sector of the NHS; and Workday Implementation Services, the only boutique partner for Workday, Inc. headquartered in the UK, responsible for implementing Workday's innovative Software-as-a-Service platform for enterprise customers.
Kainos enjoys market leading positions in each of its divisions and has a diverse customer base covering UK Government departments, NHS Trusts and global corporations such as Diageo and Travelex.
Brendan Mooney, Chief Executive Officer of Kainos, commented:
"Today we are excited to begin trading on the Main Market of the London Stock Exchange, a decision which will benefit both our customers and our employees. The recognition investors have shown towards Kainos, our services and our leading position stands as testament to the hard work and commitment of our international team.
“The task for us now is simple - to maintain our growth trajectory. We have a clearly defined strategy in place to see that happen and are looking forward to life as a listed company."
Kainos announced the pricing of its IPO and the placing of 37,691,763 ordinary shares at 139 pence per share. Based on the Offer Price and the existing issued share capital of Kainos of 117,955,532 Ordinary Shares, the market capitalisation of Kainos will be approximately £164.0million. Investec is acting as sole sponsor, financial adviser, book runner, underwriter and broker to Kainos.