Fairview International PLC on Friday started trading on London’s Main Market.

The schools operator raised £2.7 million in its initial public offering, at 10 pence each.

Shares in Fairview rose to 12p each, up 20% from its IPO price.

It has a market capitalisation of £66.7 million, up from a valuation on admission of £55.6 million.

‘We are pleased to announce our successful fundraising and admission of our shares to the Main Market. We hope the conclusion of our IPO is the beginning of the next chapter in our expansion as we seek further opportunities to grow the Fairview network of schools in Asia and the UK,’ Chair Daniel Chian said.

Fairview was formed to buy and operate two private independent schools in Malaysia, one in the capital of Kuala Lumpur and one in the southern state of Johor, near the border with Singapore. The two schools offer the international baccalaureate programme, and Fairview plans to acquire more schools that offer the programme in the UK and in Asian countries.

Copyright 2024 Alliance News Ltd. All Rights Reserved.