AMIF announces intention to launch IPO
05 June 2023 UK
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Specialist fund services group Amicorp FS (AMIF) has announced its intention to launch an initial public offering (IPO), listing its ordinary shares on the London Stock Exchange’s main market for listed securities and the standard listing segment of the official list of the FCA.
Admission to these lists is expected to occur on 8 June 2023, with the IPO offer price determined by a book-building process. The placing of new ordinary shares is expected to raise up to US$6.47 million, with existing ordinary shares expected to raise up to $9.7 million.
Part of the Amicorp Group, AMIF provides fund administration services, regulatory reporting, fiduciary services and business support alternatives to a range of client and asset classes, primarily serving start-up asset managers.
Kin Lai, CEO of AMIF, says: “ London retains its status as the world’s leading market for the financial services sector, and we believe a listing here will give us the best chance of executing our plan to consolidate the fragmented fund services market. Becoming a listed company will advance our expansion plans and provide new investors with the opportunity to participate in our growth.
“The IPO will also enable us to take full advantage of continued growth in the outsourcing of fund administration services due to diversification within the asset management industry and increasing regulatory and compliance requirements.”
Toine Knipping, non-executive chairman of AMIF, adds: “We look forward to joining the London Stock Exchange and generating continued value for all our stakeholders.
“AMIF is well positioned in its markets, with a strongly diversified mix of customers, services and geographies. AMIF has a clear strategy for growth with significant expansion opportunities amongst its current client base and an opportunity to tap into larger funds via its existing network. The growth prospects are underpinned by a scalable operating platform that has seen significant recent investment.”
Admission to these lists is expected to occur on 8 June 2023, with the IPO offer price determined by a book-building process. The placing of new ordinary shares is expected to raise up to US$6.47 million, with existing ordinary shares expected to raise up to $9.7 million.
Part of the Amicorp Group, AMIF provides fund administration services, regulatory reporting, fiduciary services and business support alternatives to a range of client and asset classes, primarily serving start-up asset managers.
Kin Lai, CEO of AMIF, says: “ London retains its status as the world’s leading market for the financial services sector, and we believe a listing here will give us the best chance of executing our plan to consolidate the fragmented fund services market. Becoming a listed company will advance our expansion plans and provide new investors with the opportunity to participate in our growth.
“The IPO will also enable us to take full advantage of continued growth in the outsourcing of fund administration services due to diversification within the asset management industry and increasing regulatory and compliance requirements.”
Toine Knipping, non-executive chairman of AMIF, adds: “We look forward to joining the London Stock Exchange and generating continued value for all our stakeholders.
“AMIF is well positioned in its markets, with a strongly diversified mix of customers, services and geographies. AMIF has a clear strategy for growth with significant expansion opportunities amongst its current client base and an opportunity to tap into larger funds via its existing network. The growth prospects are underpinned by a scalable operating platform that has seen significant recent investment.”
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