Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Ashtead Technology enjoys solid debut on AIM market

© Supplied by Ashtead TechnologyDirectors of Ashtead Technology ring the bell that opens trading on the London Stock Exchange on the day it made its market debut on AIM
Directors of Ashtead Technology ring the bell that opens trading on the London Stock Exchange on the day it made its market debut on AIM

Ashtead Technology enjoyed a solid debut on the London Stock Exchange’s AIM market yesterday.

The Aberdeen-based subsea equipment company is the fifth in Scotland to have listed on the junior market, which Mike Timmins, EY’s strategy and transaction partner has said is “great news” for corporate ambitions north of the border.

Ashtead joins meal delivery service Parsley Box, battery maker AMTE Power and Artisanal Spirits, owner of the Scotch Malt Whisky Society – and another, Calnex, which listed at the end of last year – which are among the Scottish companies to raise funds on the London markets in the last 12 months.

However, while the number is high for Scotland, demand for initial public offerings (IPOs) has been far higher in other areas of the UK with the likes of Made.com and Victoria Plumbing, which achieved the largest IPO on AIM with £1 billion in June.

Mr Timmins said: “It is more than the norm here in the last 12 months but if you compare it to Manchester and North West or the Midlands or London it’s just on a different scale.”

Last week, Ashtead Technology revealed it had reached a market valuation of nearly £130 million in its IPO after it received support from new institutional investors.

The company said it had agreed a placing of 31,832,800 ordinary shares at 162p per share.

Last night the company’s shares closed at the same level, having hit a high of 170p during the day.

Shareholders pocketed more than £36m through the public offering, with gross proceeds to the company of £15m.

Recommended for you

More from Energy Voice

Latest Posts