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.

Quick facts

Track
Market: AIM
Instrument market cap (£m)
31.67
Listing/Admission to trading
04 Feb 2022

Hercules CEO Brusk Korkmaz said:

“Over the past 12 months we have achieved significant momentum and milestone contract wins, which has culminated in today’s successful AIM listing. We hope to provide investors with exposure to both income and growth, and are delighted to welcome our new shareholders to the Hercules register.

“We have built Hercules to become a leading labour supply business over the past 14 years and our digital first approach has helped us attract major construction businesses to our client portfolio. Our proven and rapid delivery track-record has led to our work with our long-standing partner, Balfour Beatty, on HS2; this is expected to significantly step-change our growth in the next 12 months and beyond.

“This IPO will enable Hercules to capitalise on the rapidly growing market opportunity in the labour supply market; the demand for skilled labour is higher than ever before due to the multi-billion infrastructure commitments made by the UK government and we are experiencing unprecedented demand for our services.

“Therefore, having identified multiple exciting growth opportunities, and proven the fast-growth and profitable nature of our business model, we believe that we are well-positioned to gain market share through organic expansion, cross-selling and acquisition opportunities.”

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