(Alliance News) - Elixirr International PLC on Monday said it raised a total of GBP25.0 million through the placing of 11.5 million shares at 217 pence each ahead of its initial public offering on the AIM market of the London Stock Exchange.
The London-based business management consultant said the proceeds will be used to accelerate its growth via acquisitions and expansion into new markets, with a minority of the amount to be used to repay all its outstanding debt.
Elixirr said that following admission on Thursday it will have 45.2 million shares in issue and a market capitalisation of around GBP98.1 million.
"Elixirr was founded in 2009 with a vision to become a world-leading consultancy. We are delighted to announce our intention to float on AIM, which will give us the platform to accelerate our ambitious growth plans and furthers the ownership mentality within our talented team - of building a business, not just working for one. Everyone within the business is looking forward to beginning our life as a public company," said Chief Executive Stephen Newton.
By Ife Taiwo; ifetaiwo@alliancenews.com.
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Elixirr International (ELIX)