LendInvest has started trading on London’s Aim, after filing the paperwork for its initial public offering (IPO) last week.
Shares were up more than five per cent to 210p by late morning.
The online property lender, which is trading under the ticker LINV, said that its issued share capital consists of 137,416,502 ordinary shares, all of which have voting rights. The IPO documents value the company at £255.6m.
LendInvest expects to raise £40m through the IPO, which will be invested in technology and new property finance product areas.
Berenberg is acting as nominated adviser and broker to the company and acted as bookrunner in connection with the placing.
“Listing in London today is the next landmark in our growth journey,” said Rod Lockhart, chief executive of LendInvest.
“I’d like to thank each and every member of the team at LendInvest who made this incredible achievement possible.
“We are hugely excited about the future for LendInvest. The capital that we have raised through this IPO will enable us to accelerate our technology roadmap, expand into new areas of property finance, and attract new investors, brokers and borrowers to our platform.
“We’re delighted to welcome a great group of investors today, and we look forward to delivering for them on the next stage of our journey.
“We set out to make property finance simple, and today’s IPO is an important milestone in our journey towards achieving that goal.”