LONDON (Alliance News) - P2P Global Investments PLC will Friday start trading on the London Stock Exchange's main market after its initial public offering, while Clipper Logistics PLC has priced its IPO at 100 pence a share, meaning it will raise about GBP100 million.
P2P closed its placing and intermediaries offer on Wednesday, ahead of its admission. It had offered 20 million shares at 1,000 pence a share, meaning it will have an initial market capitalisation of GBP200 million.
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.
Retail logistics company Clipper, meanwhile, said it will place 49.9 million shares in its IPO, with conditional dealings also starting Friday. It will have 100 million shares in issue in total.
Clipper, which was founded in 1992 by the company's current chairman, Steve Parkin, helps UK retailers with logistics and their online operations. Its customers include ASOS, Tesco, Asda, Wm Morrison Supermarkets, SuperGroup and The John Lewis Partnership. The company also has a small German operation.
It now wants to raise money to expand further, taking advantage of increased internet shopping.
Parkin will remain Clipper's biggest shareholder after the IPO, with a 34.8% stake. Other directors will hold 10.6%.
Meanwhile, Romanian electricity distributor and supplier Electrica SA, which is being privatised by the Romanian government, said it intends to list global depository receipts in London at the same time as it lists shares on the Bucharest Stock Exchange. It will use the proceeds of the offerings to invest in the modernisation of its network.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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