London Stock Exchange welcomes Made Tech Group plc to AIM

London Stock Exchange today welcomes Made Tech Group plc (AIM: MTEC) to trading on AIM. Founded in 2008 by CEO Rory MacDonald, Made Tech is a leading provider of digital, data and technology services to the UK public sector.

The Group’s primary clients are the departments, agencies and arm’s length bodies of UK Government. Made Tech has several high-profile clients, including the Home Office, DVLA, HMRC, Department for Education, Department for International Trade and the Ministry of Justice.

The Group, which has a team of approximately 240 staff in the UK, with offices in London, Swansea, Manchester and Bristol, has raised gross proceeds of £85.4 million at a placing price of 122 pence per share, of which £15.0 million has been raised for the Group, and £70.4 million for certain selling shareholders. On admission to trading on AIM, Made Tech will have a market capitalisation of approximately £180.7 million at the Placing Price.

The money raised will support Made Tech’s next stage of growth, including opening new offices in Scotland, the Midlands, and the North of England; the introduction of new service lines; the expansion of the Group within the health, defence, and local government markets; and the hiring of senior business leaders across the health, defence, and local government markets.

Quick facts

Track
Market: AIM
Instrument market cap (£m)
157.70
Listing/Admission to trading
30 Sep 2021

Rory MacDonald, CEO of Made Tech, said:

"Our mission is focused on improving public sector technology. Becoming a publicly listed company will raise the profile of Made Tech, and enhance our ability to serve our existing clients across UK Government. In addition, it will support the next stage of our development as we seek to diversify our offer to customers, open new offices across the UK and hire senior business leaders to drive our expansion. We are extremely excited about this next stage of Made Tech’s journey.”

“I am delighted that Made Tech received such significant interest from investors, this represents a real endorsement of our strategy and growth trajectory. I welcome our new investors and look forward to working together closely in the future.”

Singer Capital Markets acted as Nominated Adviser and Joint Broker alongside Berenberg as Joint Broker. Fieldfisher were the legal advisers to the Company, and SEC Newgate provided Financial PR support.

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