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LONDON (Alliance News) - Shares in tissue converter Accrol Group Holdings PLC jumped after it began trading on AIM Friday, whilst technology investor Draper Espirit PLC priced its initial public offering ahead of its admission to AIM and Ireland's ESM market next Wednesday.
Accrol raised GBP63.5 million in the placing of 63.5 million shares at 100 pence per share. Its market capitalisation on admission was GBP93 million.
Shares in Accrol were up over 11% Friday morning at 111.4p.
Accrol said it plans to use the proceeds to repay all of its shareholder loan notes and to refinance its existing debt. Zeus Capital is acting as its nominated adviser and sole broker.
Meanwhile, Draper Espirit said it has raised GBP79 million through a placing of 14.0 million new and 1.5 million existing shares, as well as a subscription of 10.7 million shares, at 300 pence per share.
At this price, Draper Espirit's market capitalisation upon admission will be GBP122 million.
Numis Securities is acting as Draper Espirit's nominated adviser and lead bookrunner, whilst Goodbody Stockbrokers is acting as joint bookrunner and ESM adviser, and Zeus Capital as joint bookrunner.
Draper has said it plans to build an initial portfolio with exposure to early stage companies in areas like consumer technology, enterprise technology, hardware and healthcare.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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