Victorian Plumbing has officially made its stock market debut this morning (22 June) with an initial market capitalisation of £850m.
Last week the group confirmed a conditional placing of 4,427,481 new ordinary shares and 109,122,138 existing ordinary shares, at a price of 262 pence per share.
Through the placing of new shares, Victorian Plumbing claimed that it expects to raise £11.6m in gross proceeds and achieve aggregate gross proceeds of £285.9m for selling shareholders.
Mark Radcliffe, Victorian Plumbing founder and CEO, said: “Today is a landmark day in the history of Victorian Plumbing. The successful completion of our IPO and admission to AIM is an exciting next step on our growth journey.
“I would like to take this opportunity to thank our team for their support over the years. They have helped to build an incredibly strong, exciting and trusted brand together with a hard-working and innovative culture.”
He added: “We are pleased to welcome such a strong blue chip shareholder base to the register and look forward to working together on this next chapter in the Company’s development.”