You are here: Home - News -

SimplyBiz float achieves market cap of £130m and share incentives for 444 employees

  • 04/04/2018
  • 0
SimplyBiz float achieves market cap of £130m and share incentives for 444 employees
SimplyBiz’s share price has fallen almost 6% on its first morning after floating on the London Stock Exchange’s Alternative Investment Market (AIM).

The firm entered the market at 8am with a pricing of 170p per share, giving it a market capitalisation of £130m.

However, by 9am that price had dropped to 160p a share.

SimplyBiz is the parent firm of the SimplyBiz Mortgages network. Its group also includes brands such as SimplyBiz Services, Compliance First and Zest Technology Limited.

The firm currently supports over 3,400 directly authorised financial advisory firms in the UK.

Announcing the plan to float last month, joint chief executive Matt Timmins said the initial public offering would “mark the next stage in our growth story”.

According to its admission document, the SimplyBiz is floating to “enhance the profile of the business, assist in incentivising management and employees, to provide permanent capital from institutional investors, to enable the directors to take long term investment decisions and to provide Ken Davy, the group’s chairman and current majority owner, and the other selling shareholders the opportunity to sell down all or part of their respective holdings.”

The document also states that around £26.3m has been conditionally raised by the firm in order to pay down debt and fund potential acquisitions.

Some existing shareholders in the firm have entered into a lock-in deed, which stipulates they will not dispose of their shares during the first year following the listing.

A share incentive plan will be opened to the firm’s 444 employees, while senior management will participate in a management incentive plan.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Exclusive: One to One with MAB’s Peter Brodnicki on the Thompson appointment

Peter Brodnicki, CEO at Mortgage Advice Bureau (MAB) talks to Mortgage Solutions group editor Victoria Hartley about Ben Thompson's recruitment,...