Applegreen PLC raises £65.4m upon making AIM debut
June 19, 2015
Irish service station operator Applegreen PLC made its debut on AIM on 19th June, after raising €91.7m (£65.4m) in its initial public offering. Applegreen PLC, which also began trading on the junior ESM market in Dublin, placed 24.1m ordinary shares at €3.80 each, raising €70m for the company and €21.7m for its selling stakeholders.
The company’s co-founder Bob Etchingham commented “The funds raised will provide us with the platform to accelerate our growth across the markets in which we operate and further expand and rebrand our portfolio of sites.”
Applegreen PLC has a 12% share of the Irish fuel market and upon admission to the AIM it had a market capitalisation of approximately €299.7m.
Joan Yu and Cindy Wang (Capital Markets) and Ian Ogus, Claudia Otto and Lewis Glasson (Property) advised on the English law aspects of Applegreen’s AIM listing.