Boundary Capital, the Irish-based investment group, has become the 27th company to list on the Irish Stock Exchange's IEX, the specialist market for small to mid-sized companies.
Shares were priced at €1 per ordinary share, and the company raised €25 million in a share placing on its admission to IEX. It has an initial market capitalisation of €53.1 million.
The firm was established in 2002 by Niall McFadden to advise and participate in public to private transactions including Arnotts plc and Riverdeep plc. Since then, it has expanded its team with the addition of two directors and three executives all with M&A experience and has been involved as principal in a number of transactions.
Following its admission to the IEX, Niall McFadden, executive chairman of Boundary Capital, said that the company will typically acquire, on an opportunistic basis, majority stakes in cash generative companies with established trading track records, and which are well-positioned in their respective markets.
'We are looking to build a balanced portfolio of investments and to work with the senior management of investee companies to develop those companies. Shareholders will now have an opportunity to benefit from the value created by our investment strategy from the initial stages of each investment. We expect to make a number of acquisitions within the next 12 months and we look forward with confidence to Boundary Capital's future as a public company,' he said.
Davy Corporate Finance is acting as IEX adviser to Boundary Capital plc.
By the end of Q2 two more companies are expected to list on the IEX market - financial software company First Derivatives and agri/nutrition company Origin Enterprises. The exchange launched in April 2005 with eight companies. |
