Trading in shares of Warwickshire specialist investor Mercia Technologies will start next week after the company confirmed it had raised £70 million through a placing and flotation.
The Henley-based company said today it would be admitted to AIM from December 18 with a market capitalisation of £106 million.
Mercia Technologies focuses on the creation, funding and development of technology businesses nationally with an emphasis in the Midlands and the North.
It has a direct investment in 11 operating companies and access to a portfolio of 38 businesses through its third party funds, managed by its wholly owned subsidiary Mercia Fund Management.
The placing and admission will assist Mercia Technologies by giving it access to the capital required to scale its direct investments, supporting regional growth, both organic and through selective complementary acquisitions, and enhancing its scalable platform.
It will also look to recruit experienced commercialisation professionals, including a chief information officer, and expand the number of its university partners.
Mark Payton, chief executive of Mercia Technologies, said: "We are entering the next phase of our growth as a leading national player in the development of technology businesses in the UK, by taking advantage of the significant opportunity in the Midlands and the North to scale the provision of efficient and targeted capital and support.
"We provide a platform to accelerate the development of high growth technology companies in selected sectors with the goal of exiting the investments over time, generating attractive returns and realising value.
"As well as providing us with substantial funds to invest in our established portfolio of emerging stars, this listing will raise our profile and enable us to expand geographically whilst further strengthening our team to support our ambitious but realistic growth plans."
Cenkos is acting as the company's nominated adviser and broker.
