The Broker Network has today floated on the Alternative Investment Market of the London Stock Exchange.
The company said it had raised £2.5m, before expenses, through a placing of 3,521,124 shares at a price of 71 pence per share. It has also raised £0.15m by the way of an offer for subscription.
The Broker Network said the money raised through the flotation would allow it to pursue a strategy for accelerated growth, both organically and through acquisitions.
On admission, the market capitalisation at the issue price will be £10.7m, it said.
Broker Network chief executive Grant Ellis, said: “The Board of Broker Network is delighted with the response to the Company's flotation. We are looking forward to implementing our acquisition plans and benefiting from a heightened profile on AIM.”
