(Alliance News) -Â Shares in pensions startup PensionBee Group PLC rose in London on Monday as unconditional dealings began in the recently listed firm.
PensionBee was founded in 2014 and allows customers to combine and manage their pensions through an app. The company has 130,000 active customers and GBP1.5 billion in assets under administration, according to its IPO announcement.
Conditional dealings in the stock began last week.
London-based PensionBee raised about GBP55 million from new shares in its IPO, while selling shareholders netted GBP4.6 million. It had a valuation on admission of GBP365 million.
PensionBee shares were trading at 179.12 pence in London on Monday, up 8.6% from the IPO price of 165p.
By Lucy Heming;Â lucyheming@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Pensionbee (PBEE)