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.