London Stock Exchange Welcomes Hercules Site Services plc to AIM
London Stock Exchange today welcomes Hercules Site Services plc, a leading technology enabled labour supply company for the UK infrastructure sector, which has joined the AIM market.
Founded in Gloucestershire in 2008 by CEO Brusk Korkmaz, the admission of Hercules, which will trade under the ticker ‘HERC’, follows a successful subscription, institutional placing and retail offer which raised in aggregate £8 million at a placing price of 50.5 pence per share.
£4 million (gross) has been raised for the Company and £4 million for the existing shareholder from the sale of part of its interest in the Company. The funds raised for the Company will be used to rapidly deliver on the significant demand Hercules is experiencing for its diverse range of services across the UK infrastructure sector, including to scale-up of its operations to supply labour to the northern section of the HS2 rail project from London to Birmingham (Phase One).
Hercules will have a market capitalisation of approximately £29.6 million at the placing price.