Comms provider Gamma has confirmed their IPO on AIM after much speculation and a failed attempt back in 2011. 50% of shares have been sold to institutions at 187p per share, with a market capitalisation of £165.2m. On the first day of trading shares were up 10% in a market which dropped 5% overall.
Chief executive Bob Falconer added the business was “pleased with the positive response from the institutions” and that being a public company is an important development for Gamma.
He said: “We have exciting growth opportunities in our end markets, particularly in the large enterprise market and public sector, and we expect that the higher corporate profile arising from a public company status will help us to continue the momentum we have enjoyed over the past few years.
“We are looking forward to life as a listed business. We are confident that our strategy, product portfolio and route to market, will enable us to create value for all our shareholders.”