PLUS Markets Group Monthly Activity - May 2008: PLUS-Quoted Fundraising Activity Up 44 Per Cent

The PLUS-quoted market focused on growth companies continues to attract healthy IPO and fundraising activity, with Jan-May 2008 fundraising figures showing a 44% increase against the same period last year.

In January to May this year, PLUS recorded a total of £39.2 million in funds raised (Jan to May 2007: £ 27.2 million). In May 2008 alone, PLUS companies raised a strong £18.5 million. To date, 2008 fundraising is well on course to exceed last year’s total.

Noteworthy fundraising activity in May included China CDM Exchange Centre, which raised £10 million, Seven Arts Pictures plc in a secondary fundraising of £5 million raised by Zeus Capital as part of a series of tranche issues, and a Sunrise Biotech fund-raising of £1.4 million.

Since the start of 2008, twenty companies have been admitted to the PLUS-quoted market bringing the current total of PLUS-quoted companies to 220. Ten new applications for future admissions have also been received. New admissions in May included TYI Holdings plc (market cap £3m on admission) and Zeta Compliance Group (market cap £1.5m on admission).

Head of Capital Markets Paul Haddock said, “We are very pleased to see continuing momentum in the PLUS-quoted market, despite uncertain conditions in the financial markets generally. PLUS is consolidating its reputation as an accessible IPO and fund-raising venue for growth companies looking for straight-forward and cost-effective access to capital in London.”