Belvoir Lettings PLC completes AIM flotation
Successful listing on London Stock Exchange marks new chapter in the history of Belvoir...
Belvoir Lettings, one of the UK’s largest letting franchises, successfully listed on the AIM market of the London Stock Exchange on 21st February, 2012.
Belvoir MD Dorian Gonsalves said: “This marks an important milestone in the evolution of our national brand. We are now in a position to focus on our future growth as a public company. Our previous holding company, Kilima Holdings, has now been liquidated, and replaced with Belvoir Lettings PLC.
“Primarily the funds raised from the placing will enable us to fund acquisitions and execute our ambitious expansion plans. We will also be in a position to help franchise owners acquire competitors within their territory. We will be proactively targeting key competitors, and assisting with an operations strategy. More importantly, the flotation will enable us to provide assistance with funding for the right opportunity, although this will depend on individual circumstances.
“The strength and identity of our national brand is testament to the combined commitment of the franchise network and the team at Central Office and I make this announcement with great pleasure and pride in the network, and our achievements in previous years.”
Belvoir Chairman Mike Goddard, who founded the company in 1995, said: "We are delighted to be debuting on the AIM market of the London Stock Exchange today. The Belvoir franchise operates in the stable and growing UK residential lettings market and is excited about its expansion plans to continue to grow its presence in this market. The response from our new institutional and private shareholders, including many Belvoir franchise owners, has been very encouraging and we look forward to life as a public company."
Seymour Pierce is acting as Nominated Adviser and Broker to Belvoir Lettings PLC. A copy of the Admission Document and relevant information provided under AIM Rule 26 is available from the Company’s website at www.belvoirlettingsplc.com