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SimplyBiz eyes £150m flotation


SimplyBiz Group is considering an initial public offering of £150m on the London Stock Exchange.

According to a Reuters report, the potential float could value the company between £140m and £155m and is expected to raise £30m of new money.

SimplyBiz joint group chief executive Matt Timmins confirms the business has recently appointed Zeus Capital as an adviser and part of its growth strategy is to “regularly reviews its strategic options in terms of financing”.

He adds: “For us, the most important priority continues to be supporting the firms we serve. The group has gone from strength to strength over the last few years with more firms than ever electing to join us and receive compliance and business support.”

It considered a float in 2015 but shelved the idea so it could secure alternative financing.

SimplyBiz joins other advice-related firms eyeing listings.

Platform Transact is due to float  in March and national restricted advice firm Sandringham Financial Planners is considering floating on the AIM market of the London Stock Exchange but wants to bolster adviser numbers first.



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Three questions for employers…

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