Online bathroom retailer Victorian Plumbing has completed the largest ever IPO on the London Stock Exchange's Alternative Investment Market.
The Merseyside-headquartered firm, which first announced plans to float on the London Stock Exchange's AIM market earlier this month, placed 4,427,481 new ordinary shares and 109,122,138 existing ordinary shares at a price of 262p each.
Trading started at 8am this morning with GCA Altium acting as nominated adviser and financial adviser in relation to the admission.
Barclays Bank and Numis Securities are acting as joint global coordinators.
The placing is set to raise gross proceeds of £11.6m for the firm, giving it a market capitalisation on admission of £850m.
The firm now has 324,427,481 ordinary shares in issue and a free float of approximately 35%.
Founder and chief executive Mark Radcliffe said: "Today is a landmark day in the history of Victorian Plumbing.
"The successful completion of our IPO and admission to AIM is an exciting next step on our growth journey.
"I would like to take this opportunity to thank our team for their support over the years.
"They have helped to build an incredibly strong, exciting and trusted brand together with a hard-working and innovative culture.
"We are pleased to welcome such a strong blue chip shareholder base to the register and look forward to working together on this next chapter in the company’s development."
