Cobra, a retail and wholesale insurance broker, has been valued at some £36 million after it joined AIM.

Cobra, a retail and wholesale insurance broker, has been valued at some £36 million after it joined AIM.

The legal aspects of the IPO were managed by asb law, which has assisted Cobra on several of its acquisitions as well as providing employment, real estate and commercial contracts advice.

Its team was led by head of corporate finance, Matt Newman, who said joining AIM gives Cobra visibility as well as access to capital.

“It was a logical step for Cobra, a group of companies that has grown substantially both organically and by way of bolt-on acquisitions since it was established at the beginning of 2006. Cobra’s shares are now liquid and combined with fundraising activities it has a cash and share war chest to purchase further businesses.”