LONDON (SHARECAST) - There were early gains for Verdant Holdings when it joined AIM this morning as the group looking to acquire an interest in environmental industry businesses raised £3.14m from a placing at 10p.
The fundraising values the group at £3.5m, but the shares started trading at over 11p and have since hit a high of 12.75p each, adding almost £1m to the firm’s market capitalisation.
Verdant, a new company, aims to identify businesses close to commercialisation with the potential for rapid roll-out, which may be the businesses of either public or private companies in the UK or overseas.
It intends to be an active rather than a passive investor and any acquisition would primarily focus upon taking a controlling or 100% stake.
Discussions with any potential acquisition targets have not progressed beyond a preliminary stage to date, it said.
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