Birmingham-based care services group Claimar ended its first day of trading on AIM with shares at 80.5p - after launching with a flotation price of 72p valuing it at approximately £16.1 million.
The company supplies a range of care services primarily to elderly and infirm people in their own homes under long term contracts, delivered principally as part of outsourcing arrangements with local authorities.
The oversubscribed fundraising saw the company raise £4.5 million along with a placing of a further £3.7 million by existing shareholders.
John Crabtree, chairman, said: "This will greatly enhance our abilities to act as a consolidator in the highly fragmented domiciliary care market."
Birmingham-based Arden Partners is acting as the company's nominated adviser and broker and operates next door to Claimar in Edgbaston "which made holding
meetings very straightforward", a spokesman said.
Led by Andrew Raca, the Arden team included Steve Douglas, Graeme Cull and Andrea Tubb.
Lawyers to the company were Hammonds - led by Martin Letza and including Karen Proctor and Ateeq Ahmed. Lawyers to Arden were DLA Piper Rudnick Gray Cary - Charles Cook and Carol Clarke. Auditors and reporting accountants were Mazars - Andrew Mill-ington, Greg Hall and Phil Waller.
