LONDON (Alliance News) - Online advertising services Marimedia Ltd commenced trading on AIM Wednesday, whilst Netherlands-based real estate development and investment group, Brack Capital Real Estate Investments N.V, joined the London Main Market.
Additionally, investment trust P2P Global Investments PLC closed its placing and intermediaries offer ahead of its admission on Friday.
Marimedia raised GBP29.8 million through a share placing and sale of existing shares. The company placed 11.7 million shares at 153 pence to raise GBP17.9 million and sold 7.8 million existing shares, at the same price, to raise a further GBP11.9 million.
At the placing price, Marimedia has a value of GBP94.5 million.
Shares in Marimedia were trading up 1.3% at 155 pence Wednesday afternoon, having risen to 160 pence shortly after admission.
The company said that it believes its listing will enhance its profile and visibility. It will use the funds it has raised to develop and enhance its offering, as well as satisfying growing demand, it said.
N+1 Singer Advisory LLP is acting as the Nominated Adviser and Broker to Marimedia.
In 2013, Marimedia generated earnings before interest, tax, depreciation and amortisation of USD8.7 million on USD43.3 million in revenue. The company has no debt.
Brack Capital Real Estate Investments joined the London Stock Exchange's official list Wednesday, raising EUR26.1 million through the placing of 16.1 million shares at around EUR1.62 per share.
Additionally it sold 10.2 million existing shares at the same price to WP Holdings I B.V.
At the placing price the company has a market capitalisation of EUR260.1 million.
Shares in BCRE were trading up 4.9% at EUR1.7 Wednesday afternoon.
It will use the funds raised for working capital purposes, it said. BCRE had revenues of EUR54.9 million for 2013, and net assets as at December 31 of EUR233.9 million.
The company has an interest in 8,920 income producing residential units and 36 income producing commercial properties across the US, Germany and Russia.
P2P Global Investments said it expects to be admitted to the London main market Friday, and closed its initial placing and intermediaries offer. P2P said the target size of the issue had been achieved; its offer consisted of 20 million shares, 100% of its share capital.
The company confirmed that, based on its offer price of 1,000 pence per share, its total market capitalisation on admission will be GBP200 million.
P2P's adviser is Liberum, who is also acting as its Sponsor, Broker and Placing Agent.
The company will invest in online and peer-to-peer lending, a small, but fast-growing part of the global financial system. It gathered pace in the wake of the financial crisis as traditional lenders restricted their lending as they turned their attentions to shoring up their balance sheets. It is now regulated in both the US and UK.
It has appointed Marshall Wace LLP as investment manager, which in turn appointed affiliate Eaglewood Capital Management LLC as sub-manager.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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