Charter Court announced its intention to proceed with an IPO and a premium listing of its shares on the main market of the London Stock Exchange earlier this month.
The firm began trading on the London Stock Exchange this morning, with trading on the main market and the commencement of unconditional dealings to start from the 4th October.
The global offer represents approximately 40% of Charter Court’s total share capital on admission, valuing it at £220 million.
The company will receive approximately £20 million of gross proceeds from the global offer.
Various funds managed by Old Mutual Global Investors have agreed to acquire 43,500,000 shares with a value of approximately £100 million, equating to an 18.1% stake.
Ian Lonergan, CEO of Charter Court Financial Services, said: "Today’s announcement reflects the high level of investor interest shown in our IPO and is a clear endorsement of Charter Court’s business, track record, strategy and prospects.
"I welcome all of our new shareholders and look forward to sharing with them the next exciting stage of our development as we seek to take advantage of the further opportunities we see in our specialist mortgage markets and drive sustainable growth and attractive risk adjusted returns.”
