SimplyBiz to float on London Stock Exchange

Set to happen on 4 April

Jenna Towler
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Matt Timmins: "We are now the UK's leading provider of compliance and business services to directly authorised financial advisers."
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Matt Timmins: "We are now the UK's leading provider of compliance and business services to directly authorised financial advisers."

SimplyBiz is set to float on the London Stock Exchange with a market capitalisation of £130m.

The compliance and support services business said it had raised £30m from an institutional placing of ordinary share at 170p and £34.6m for selling shareholders through an institutional placing. The float is set to take place on 4 April.  Zeus Capital is acting as nominated adviser and sole broker to the company.  Joint chief executives Matt Timmins and Neil Stevens have been running the business since 2010. Over this period revenues have grown 366% from £12m to £44m. Timmins (pictured) said: "Our business has evolved significantly since 2002 and we are now the UK's leading provide...

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