0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter
Credit Strategy sections
Topics ▼
Topics ▼
Sections ▼
Shop for events
Shop for events
Search

Dear visitor,
You are viewing 1 of your 1 free articles


We’ve made wider, important changes to our print and online content to enhance the value of exclusive, insightful, discerning content we create every day. Support valuable editorial content by becoming a member of our Credit Club - register for free or choose a paid plan.

Register now or Login

Manolete Partners plans AIM listing

Insolvency litigation financing business Manolete Partners has announced its intention to list on the AIM market of the London Stock Exchange.


Calum   Fuller

Share on LinkedInShare on Twitter
Calum   Fuller
Share on LinkedInShare on Twitter

Peel Hunt is acting as nominated adviser and sole broker to the company.

 

The company has conditionally raised £16.3m (before expenses) from an institutional placing of 9,285,714 new ordinary shares and £13.1m (before expenses) has been realised by the selling shareholders through an institutional placing of 7,480,316 existing ordinary shares. In each case, shares were priced at 175 pence per share.

 

Admission to the AIM market is expected to take place on December 14, 2018, with the company having a market capitalisation of £76.3m.

 

Manolete was founded in 2009 and is focussed on acquiring or funding insolvency and insolvency-related claims in the UK. According to its filing with the London Stock Exchange, as at September 2018, the company had invested in 249 cases, generating gross recoveries on the 173 completed cases of £27.9m.

 

Manolete chief executive Steven Cooklin said: “Our reputation is founded on our ability to source and price complex legal risk and deliver outstanding returns. Our total case return on investment exceeds 200 percent, delivering returns to insolvency practitioners that are often transformational to creditor recoveries.

 

“This is an exciting time for the company. There is now a real opportunity to rapidly build on our achievements and I’m confident that our IPO will act as the catalyst for accelerated growth. We are greatly looking forward to life as a listed business and delivering on our plans.”

LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

Barclays customers now able to “switch off” certain spending

Barclays customers now able to “switch off” certain spending

Link Asset Services acquires Dutch mortgage broker FlexFront

Link Asset Services acquires Dutch mortgage broker FlexFront

Hospitality sector suffers most company failures

Hospitality sector suffers most company failures

Upcoming events

ENJOY READING?

Fast lane: Why IFRS 9 is already accelerating debt sale activity
20/20 vision: How Credit Strategy is marking 20 years of representing credit
Rise of the machines
Cultural evolution: How utilities firms overhauled their approach to vulnerable customers
Standing their ground: Amid increased scrutiny from both MPs and regulators, BrightHouse is a lender very much under the microscope.
Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group