London Stock Exchange today welcomes Microlise Group plc (AIM: SAAS) to trading on AIM.

Microlise is a leading provider of transport management software to fleet operators helping them to improve efficiency, safety, and reduce emissions. These improvements are delivered through reduced fuel use, reduced mileage travelled, improved driver performance, fewer accidents, elimination of paperwork and delivery of an enhanced customer experience.

Established in 1982, Microlise is an award-winning business with around 350 employees based at the Group's headquarters in Nottingham, as part of a total staff of 500 globally. Microlise operates predominantly in the UK and has offices in France, India and Australia. 

Microlise's proprietary modular platform was specifically developed to provide an end-to-end technology solution for fleet customers. 58 per cent of UK large HGV fleet operators (defined as comprising more than 500 vehicles) use the Microlise platform.  The Group has a diverse customer base, including organisations representing 88 per cent of the UK grocery retail market by market share. Other customers include Culina Group, DFS, Hovis, MAN Truck & Bus UK, and Yodel.

Microlise raised gross proceeds of £61.2 million at a Placing Price of 135 pence per share. The Group's market capitalisation is approximately £156.5 million at the Placing Price with a free float of 39.1%.
 
The money raised will support Microlise's next stage of development, including the broadening of the Group's product offering, expansion of its international operations, entry into new market segments, and the opportunity to accelerate the Group's growth strategy through targeted M&A.

Microlise has been awarded the London Stock Exchange's Green Economy Mark due to its work in reducing fuel use and Green House Gas emissions.

Nadeem Raza, CEO, Microlise, said: "This is a fantastic day for Microlise. With an established track record of growth, proven management, and a market-leading position in providing technology solutions to fleet operators, Microlise is well set to capitalise on what we believe to be a major growth opportunity. Our customers are under pressure to meet increased environmental regulations and want more integration across supply chains. In addition, the challenges of the pandemic and Brexit have raised even greater awareness of the need to optimise the movement of goods efficiently and sustainably. Our IPO on the London Stock Exchange will support the next stage of our development, including expanding our international business, and entering new market segments. We look forward to updating shareholders on our progress."

Singer Capital Markets acted as Broker and Nominated Adviser. DWF Law LLP were the legal advisers, BDO LLP was the Auditor and reporting accountant and SEC Newgate provided Financial PR support.