Public Policy Holding Co Inc on Monday said it has filed for a dual listing on the Nasdaq Stock Market.
The group of advisory firms specialising in government affairs and public relations is based in Washington, DC, but currently trades on London’s AIM.
Its shares were up 1.3% at 1,089.00 pence on Monday morning, having risen 65% in the last 12 months.
PPHC has not yet confirmed the number of shares to be issued in the US, or the price range of the initial public offering, but expects its shares to be ‘fully fungible’.
‘The offering is expected to consist of predominantly newly issued shares and the proceeds from the issue of new shares are intended to support working capital and general corporate purposes, including future acquisition opportunities consistent with the company’s growth strategy,’ PPHC said.
Back in August, the firm said it expected to float on Nasdaq once the Securities & Exchange Commission had completed a standard review.
PPHC has appointed Oppenheimer & Co and Canaccord Genuity as lead bookrunning managers, alongside joint bookrunner Texas Capital Securities.
The dual listing plan follows 24% revenue growth in the first half, with PPHC posting $87.9 million in revenue for the six months ended June 30, compared to $71.1 million the previous year. Its net pretax loss widened to $12.3 million from $6.9 million.
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