Northcoders reveals flotation plans
Manchester and Leeds-based software training company, Northcoders, has announced that it intends to float on the AIM market.
The company is proposing to place 1.9m new ordinary shares, raising £3.5m. Based on the Placing Price, it would value Northcoders at £12.5m.
“We are delighted with the support that Northcoders has received for the Group’s IPO on the AIM market of the London Stock Exchange and would like to welcome our new shareholders as they join our growth journey. Thanks must also go to all of our team who have played a pivotal role in our success to date,” said Chris Hill, Chief Executive Officer of Northcoders.
“There’s no doubt that Northcoders is in an exciting period, particularly as we move away from the pandemic with the demand for digital training having never been stronger in the UK. The government has clearly signalled its support for improving access to all forms of education, especially through apprenticeships like ours, and our differentiated business offering is proving attractive to individuals and corporate clients alike.
“As we continue our strategy to expand across our homeland in the North of England, and indeed look at broader opportunities across the UK, the Board and I are confident in our ability to deliver significant shareholder value.”
Established in 2015, the company has helped more than 800 people switch to a career in technology. It hopes that the admission to AIM will enable it to access the capital it requires for further growth, including into the Midlands.