Yü Energy powered up by oversubscribed IPO
Small business energy supplier is in demand after it announced its intention to float on AIM just two weeks ago...
Yü Energy, the small business gas and electricity supplier founded by entrepreneur Bobby Kalar, has seen its initial public offering (IPO) oversubscribed just two weeks after it announced its plans to launch on the Alternative Investment Market (AIM).
The Nottingham-based start-up has today announced its placing price at 185p per ordinary share after raising £10m, and now intends to start trading on the London Stock Exchange’s junior market this Thursday 17 March.
Its market capitalisation at the time of admission is expected to be £26m.
Kalar commented: “I would like to thank all of our employees whose hard work has enabled us to reach this point and the success of this IPO does them all great credit.
“Together, we look forward to becoming a publicly listed company and creating value for all of our stakeholders.”
Find out more about Yü Energy here.