The shares, which were priced at the top end of the range following strong investor appetite from blue-chip investors in the UK and US, have increased by 15% since commencing conditional trading on the LSE on Tuesday. Unconditional dealing in the shares commenced at 8.00am this morning under the ticker “ALD”.
Phillip Monks, Chief Executive Officer, along with members of the senior management team and the Company’s external advisors, celebrated the significant milestone by opening the London market this morning.
Aldermore provides commercial finance, mortgages and savings to the UK’s Small and Medium-sized Enterprises, homeowners and savers. The Company’s successful listing follows record 2014 annual results - doubling of underlying profit before tax to £56m.
2014 also saw Aldermore increasing its support for UK SMEs and homeowners across the country, with net loans to customers up 42% to £4.8bn, including over £2.2bn to SMEs.
Commenting on the admission to trading, Phillip Monks said:
“It was with great pleasure that I was able to open the London market this morning and formally mark the start of Aldermore’s journey as a listed company. We have been absolutely delighted with level of investor appetite in the IPO and the impressive performance of our shares since listing on Tuesday, and would like to welcome all new shareholders on board. Aldermore is well positioned for sustainable, profitable growth, building on the momentum of our strong 2014 performance, and for delivering long-term value for our investors.”
