London Stock Exchange today welcomed McColl’s Retail Group plc
London Stock Exchange today welcomed McColl’s Retail Group plc (“McColl’s”) to open its UK markets, marking the successful listing of the Company on the premium listing segment of the Official List, trading on the main market with a market capitalisation of £200m.
Established in 1973, McColl’s is a leading UK neighbourhood retailer operating in the convenience and newsagent sectors, with a growing number of Convenience stores. It has 718 McColl’s branded convenience stores and 559 newsagents branded Martin’s except in Scotland where it operates under RS McColl. The Group has developed a strong national presence and brand awareness across the UK as the majority of its stores are situated in neighbourhood locations and act as a focal point for local communities offering a wide selection of products and services.
The Group intends to extend its store portfolio to approximately 1,350 stores by the end of 2016 through a combination of conversions and acquisitions.
James Lancaster, Executive Chairman and Chief Executive Officer, said:
“We are delighted to announce that our IPO has been successfully received. Today marks a key moment in the Group’s history and lays the foundation for the future growth and development of McColl’s as a business. The strong appetite from investors will enable us to accelerate our growth strategy, further enhancing our position in a rapidly growing convenience market.
I’d like to welcome on board our new shareholders and look forward to the next stage of our development as a listed company.”
Numis acted as Sponsor, Financial Adviser and Bookrunner to the Company.