Successful IPO:
We are very pleased to announce the first IPO from our UK Tech Fund I. After a hugely successful roadshow Revolymer plc has today announced a conditional placing of new ordinary shares with institutional investors to raise gross proceeds of £25 million and that the admission of its entire issued share capital to trading on the AIM market of the London Stock Exchange plc is expected to take place on 10 July 2012.
The IPO was priced at the top of the indicative range, and represents an 8% premium to the price at which we invested in April 2011 – a 55% premium including initial tax reliefs for our investors, against a backdrop of the FTSE SmallCap Index losing 10.3% over the same period*.
