Employee-owned business investment vehicle Capital for Colleagues is set to pursue expansion on the growth markets by listing.
The business has outlined plans to join the ICAP Securities & Derivatives Exchange (ISDX) later in the month and raise £2.19 million in the process.
Its offering centres on providing advice and finance to mostly UK and Irish firms which have an established structure of employee ownership, or are looking to build one.
Once its listing on ISDX is complete, Capital for Colleagues plans to have equity and/or debt-related interests in three employee-owned businesses, namely FJ Holdings, Merkko and TPS.
John Eckersley, CEO of Capital for Colleagues, says, ‘By listing on ISDX, Capital for Colleagues will offer investors a unique opportunity to gain exposure to a distinct and strongly performing asset class.
‘We chose to list on the ISDX Growth Market because we believe it will allow us to access the capital we need for the next stage in our growth strategy.’
More on ISDX market activity:
- Daily raises money to fund AIM admission on ISDX
- Fundraising for North American Petroleum
- ISDX to AIM move for Venn Life Sciences
ISDX was formerly PLUS-SX before inter-dealer broker ICAP bought the junior stock exchange for £1 in May 2012. The deal followed an announcement by PLUS-SX parent company PLUS Market Group that it was to wind down after several years of losses.
The exchange now facilities the raising of growth capital, typically between the range of £150,000 and £5 million.
Seth Johnson, CEO of ISDX, comments, ‘Employee ownership is an increasingly common feature within businesses in the UK and Capital for Colleagues’ business model should provide support to this important sector.’
