Bolton-based K3 Capital has announced plans to float on London’s junior market as it seeks to challenge the City’s traditional brokers.
The initial public offering (IPO) on the Alternative Investment Market (Aim) is scheduled for next Tuesday, with K3 expected to raise around £17.8m.
The firm, which was founded in 1998, will have an initial price of 95p per share, giving it a market capitalisation of £40.1m.
Proceeds from the float, which FinnCap advised on, will be used to settle its purchase of another business, Triskell, and provide additional working capital for the group.
K3 also today…