A Bath-based designer eyewear manufacturer and distributor has floated on the AIM market of the London Stock Exchange.
Inspecs, which owns the factory where John Lennon's famous round glasses were made, has successfully raised £23.5million in its initial public offering (IPO).
Following admission onto the stock market, Inspecs now has a market capitalisation of £138million.
The company has placed more than 12 million new ordinary shares with institutional and other investors at a price of 195p.
Corporate brokers Peel Hunt also placed 36 million existing shares on behalf of selling shareholders at the placing price, raising gross proceeds of £70.5million.
Robin Totterman, chief executive of Inspecs said: “Our admission to AIM represents a landmark moment for Inspecs.
"It will enable the business to grow and develop, both organically and through accretive acquisitions, as we build our market share in the globally expanding eyewear market.
“I would like to thank all of our people, who have been instrumental in building such a successful business and welcome our new shareholders to the register.”
The float represents the first IPO of 2020 to raise money on AIM .
