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Hercules Site Services PLC - Cirencester, England-based labour supply for UK infrastructure sector - Shares rise slightly on first day of trading on AIM. Quoted at 53.0 pence early Friday afternoon, up 5.0% from initial public offering price of 50.5p. Hercules previously had reduced the raise from its IPO to GBP8.0 million from GBP10.0 million. At its offer price, Hercules had a market capitalisation of GBP29.6 million on admission. The IPO was led by SP Angel Corporate Finance LLP as nominated adviser and broker. Hercules was founded in 2008 and counts construction firms Balfour Beatty PLC, Costain Group PLC and Kier Group PLC among its customers. The GBP4 million that was raised for the company from the IPO will go toward scaling up operations, including supplying contractors for the HS2 high-speed rail linen between London and Birmingham.
By Tom Waite; thomaslwaite@alliancenews.com
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