Shares in One Health Group PLC started trading on the AIM market in London on Thursday, as the company switched its listing from Aquis Stock Exchange and raised £7.8 million in the process.

One Health is a Sheffield, England-based provider of surgical procedures funded by the UK National Health Service.

It priced its initial public offering on AIM at 180 pence per share, giving the company an opening market capitalisation of £24.7 million.

One Health shares were quoted at a bid-offer spread of 180p to 190p on Thursday morning.

The IPO offering consisted of both new and existing shares, with about £6 million going to the company and the rest to its non-executive chair, chief medical officer, and pension fund.

The placing portion of the raise was run by broker Panmure Liberum Ltd, while the retail portion was via the platform operated by Winterflood Securities Ltd.

The fresh equity for the company will be put toward building its first owned surgical hub. The surgery is expected to cost between £8 million and £9 million. One Health said the surgery should be ready within a year of starting construction. It is expected to bring in £6 million to £9 million in revenue per year and be earnings enhancing in its first full year of operation.

‘This is a pivotal step in advancing our mission to provide NHS-aligned healthcare through patient choice and our scalable surgical hubs and patient centric service,’ Chief Executive Officer Adam Binns said of the IPO. ‘This milestone, bolstered by a successful capital raising and strong institutional investor confidence, will enable strategic expansion while maintaining our commitment to reducing patient waiting times and delivering clinical excellence with sustainable growth.’

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