Selkirk Group PLC - London-based acquisition vehicle focused on consumer, technology and digital media sectors in the UK - Selkirk prices its initial public offering on AIM in London at £0.024 per share, giving the company a starting market capitalisation of £10 million. At that price, it will raise £7.5 million in the placing and subscription of shares that was run by Zeus Capital Ltd as part of the IPO, in line with the target it had set last month.
Prior to the IPO, Selkirk was half owned by London-listed investor Kelso Group Holdings PLC and half by funds controlled by Belerion Capital Group. Their holdings will fall to 18.1% and 16.6%, respectively. Terry Leahy, the former chief executive officer of grocer Tesco PLC, will have just under a 10% stake following the IPO. Shares will start trading on Thursday this week.
Selkirk aims to buy a company with an enterprise value of between £30 million and £1 billion in a reverse takeover.
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