Angling Direct boss urges more Norfolk firms to brave the stock market ahead of historic AIM listing Fishing tackle store and online retailer Angling Direct is set to join the London Stock Exchange's AIM list on Thursday.
And, just hours from the initial public offer (IPO) it burberry inspired expects to raise 9m, executive burberry overnight bag chairman Martyn Page urged other leading companies in the region to follow its lead in the search for faster growth. The flotation follows a similar move from Diss audio visual distributor Midwich last May. Other Norfolk AIM members include veterinary group CVS, which floated in October 2007, burberry mall and tech firm Proxama, which followed six months later. Angling Direct is targeting a market capitalisation of 27.4m and will raise 9m, with 7.4m being reinvested to help expand its online and physical presence. Chief executive Darren Bailey and Mr Page have given more than 30 presentations to city funds and investors in the hope of sparking interest. Mr Page, who is a partner with Norwich accountancy firm M+A Partners, said: "An IPO isn't an exit strategy, it is for a business which is growing. "I think a lot of businesses in Norfolk would do well to look at it. For maybe 90% it would not be worthwhile but for 10% it could be. "We have had something like four Norfolk IPOs in the last 10 years. It is something I think Norfolk Plc needs to understand better." Mr Page added that he felt the business had a good mix of short term and long term investors ahead of its new era launching with a ceremony at 8am on Thursday. Please log in to leave a comment and share your views burberry outlet prices with other Norwich Evening News visitors.
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