Software coding training programmes provider Northcoders Group will be valued at £12.5m when it floats on the London Stock Exchange's AIM next week.
The Manchester and Leeds-based company is to float with 1,944,444 new ordinary shares of one penny each, at a price of 180 pence per share.
The fundraising will raise a total of £3.5m, before expenses. WH Ireland and Peterhouse Capital have acted as joint placing agents. WH Ireland is acting as nominated advisor and broker to the company.
READ MORE: Andy Burnham calls on Government to publish guidance over vaccine passports
Admission and the start of dealings on AIM are expected to take place at 8am on July 27.
On admission, the company will have 6,944,445 ordinary shares in issue and a free float of approximately 29.6%.
In a statement the business said: "The directors believe that the company’s admission to AIM will allow it to access the capital it needs to facilitate its stated growth strategy, particularly enabling it to roll out its model geographically with an additional hub in Birmingham and the opening of two other regional hubs in 2022."
Chief executive Chris Hill added: "We are delighted with the support that Northcoders has received for the group’s IPO on the AIM market of the London Stock Exchange and would like to welcome our new shareholders as they join our growth journey.
"Thanks must also go to all of our team who have played a pivotal role in our success to date.
"There’s no doubt that Northcoders is in an exciting period, particularly as we move away from the pandemic with the demand for digital training having never been stronger in the UK.
"The Government has clearly signalled its support for improving access to all forms of education, especially through apprenticeships like ours, and our differentiated business offering is proving attractive to individuals and corporate clients alike.
"As we continue our strategy to expand across our homeland in the North of England, and indeed look at broader opportunities across the UK, the Board and I are confident in our ability to deliver significant shareholder value."
