TEAM PLC, through the London Stock Exchange (LSE), has announced its intention to proceed with an Initial Public Offering (IPO) and to seek admission of its shares to trading on the UK’s Alternative Investment Market (AIM).
The company will also be raising additional funds through a placing of new ordinary shares in the capital of Team PLC on the LSE. Proceeds from the placing will primarily be used to support acquisitions and supplement working capital.
It is expected that the admission will occur in early March 2021.
Mark Clubb, Executive Chairman, of TEAM PLC commented, “This is a milestone event for our business. Our high-conviction investment approach has paid particular dividends during challenging market conditions, and our clients have benefitted from both our agility and independence of thought.
“In a world of ever-increasing homogeneity, TEAM provides its clients with a relevant service that meets their investment needs. The listing of our shares and engagement of our new supportive shareholders will help propel TEAM forward, benefitting our clients, our staff, and our investors.”
TEAM PLC is the parent company of TEAM Asset Management, a Jersey-based investment management business launched in 2001.
The full listing announcement is available here.