(Alliance News) - Elixirr International PLC on Thursday announced the admission of its shares to be traded on the Alternative Investment Market of the London Stock Exchange.
The London-based business management consultant raised GBP20 million, before expenses, through an oversubscribed placing of 9.2 million new shares with institutional and other investors at a price of 217 pence per share.
In addition, 2.3 million existing shares have been placed on behalf of the selling shareholders at the placing price, raising gross proceeds of GBP5.0 million.
The company's market capitalisation at the placing price on admission was GBP98.1 million.
Elixirr Chief Executive Stephen Newton said: "Listing on AIM today marks an incredible chapter in Elixirr's story. The vision I had for the firm in 2009 remains - to become a world-leading consultancy.
"Admission to the exchange will further support our reputation as the challenger consultancy and provide the capital to accelerate our integrated strategy, growing off the great platform we have created."
Elixirr shares closed down 5.7% at 214.00 pence on Thursday in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Elixirr International (ELIX)