LONDON (Alliance News) - Shares in PureTech Health PLC started trading on the main market of the London Stock Exchange Friday, after the company raised GBP108 million in its initial public offering, whilst petrol forecourt retailer Applegreen PLC listed on AIM, having raised EUR91.7 million, and real estate investment trust K&C REIT PLC announced plans to list on AIM.
PureTech, a healthcare company, has raised GBP108 million through the placing of 67.6 million shares at 160 pence each, giving the company a total market capitalisation of GBP363.6 million.
Shares in PureTech are trading up 8.8% at 174 pence Friday morning.
The company expects to be eligible for inclusion in the FTSE UK Index series.
PureTech said the proceeds of the fundraising will help it bring its "most advanced product candidates towards commercialisation and launch."
Applegreen said at the placing price of 277 pence it has a market capitalisation of around EUR299.7 million. Shares in Applegreen are trading up 7.6% at 298 pence Friday morning, having risen to over 300 pence earlier in the day.
It will use the proceeds of the placing to expand its estate in Ireland and Great Britain, and to upgrade and rebrand a number of sites.
For 2014 the company posted earnings before interest, tax, depreciation and amortisation, adjusted for foreign exchange movements, share based payments and other non-recurring costs of EUR22.8 million on revenue of EUR937.3 million.
"Along with the rest of the management team, I am delighted to announce the successful completion of our IPO and our first day of trading as a listed company. We are very pleased with our list of new institutional shareholders. Their support provides further endorsement of our strategy and our growth prospects," said Chief Executive Officer of Applegreen Bob Etchingham in a statement.
K&C expects to be admitted to AIM in early July.
The company said it has agreed to acquire Silcott Properties Ltd for GBP3.6 million in cash and shares, conditional on its admission to AIM. Silcott owns a 3,976 square foot residential building in Chelsea, London. K&C will focus on acquiring, developing and managing residential property assets in Central London, and said it expects to complete further acquisitions within three to six months of its admission.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
