London Stock Exchange today welcomed Market Tech Holdings Limited (the “Group” or “Market Tech”) to open its UK Markets, celebrating the admission of its shares to trading on AIM. The Group’s oversubscribed IPO successfully raised £100 million and, upon admission, the Group’s market capitalisation was £750 million.
Market Tech is an integrated real estate and e-commerce group which owns and manages the main Camden Markets in Central London.
Focused on the iconic retail, leisure and creative environment of the Camden Markets, Market Tech unifies a total of over 11 acres of real estate assets under single ownership. Market Tech is also developing a diverse online and offline multichannel offering with appeal to a global audience significantly beyond the 28 million visitors per annum that visit the Camden area. Through its online investment, the Group plans to develop an online retail leisure and lifestyle presence that it believes will deliver greater revenues for the online business and for the physical markets.
Shore Capital acted as Joint Bookrunner and Joint Broker to the Company in the IPO.
Charles Butler, Market Tech’s Chief Executive Officer, said:
“We are delighted to have successfully completed our AIM admission. Market Tech offers the opportunity to invest in one of London’s most popular locations with a differentiated cultural identity; and I’m delighted by the investor response. By capitalising the iconic retail, leisure and entertainment destination of the Camden Markets through our new online platform we aim to deliver a multichannel e-commerce experience to both customers and retailers, making Camden a leading online and offline retail destination. Unifying the Camden Markets under single ownership for the first time and the planned development of Camden Lock Village will allow us to create a distinctive environment, combining retail, leisure, office and residential.”
See article online here on the London Stock Exchange website