05 Apr 2018
- Placing Size:
- Post Deal Mkt Cap: £130m
Zeus Capital acts on behalf of of The SimplyBiz Group plc (SBIZ LN) on its AIM IPO
Zeus Capital has acted as Nominated Adviser and Sole Broker to The SimplyBiz Group plc in connection with its Admission to trading on AIM.
The SimpyBiz Group plc was admitted to trading on 4th April 2018 with a market capitalisation (based on the placing price of 170 pence) of £130 million.
The Group provides services to the demand-side, financial intermediaries, and the supply-side, financial institutions, of retail financial services via its two divisions, the Intermediary Services Division and the Distribution Channels Division.
The Directors believe that the Group is a crucial market enabler, ensuring that independent intermediaries can continue to meet the needs of their retail clients, compliantly and effectively, and that the product providers can effectively distribute financial services products through a thriving independent intermediary sector.
Founded in 2002, by now Non-Executive Chairman Kenneth (Ken) Davy, to meet the changing needs of financial advisors in a sector being reformed by regulatory intervention. The Group has provided product providers with efficient access to the services that enables ongoing compliance with regulatory requirements.
With over 3,400 member firms in the UK, SimplyBiz is a leading independent provider of compliance and business services to financial advisers, including directly authorised IFAs, directly authorised mortgage advisers, workplace consultants and directly authorised consumer credit brokers. It also provides marketing and promotion, product panelling and co-manufacturing services to more than 135 financial institutions, including 43 asset managers, 26 life assurance and pension companies, 46 mortgage lenders, 13 general insurance providers and 7 credit lenders, through access to its membership.