The AIM market is operated by the London Stock Exchange and LendInvest will trade under the tick LINV.
Based on interest from investors in its initial public offering (IPO) and an offer price of 186 pence per share, the company’s market value will be approximately £255.6m.
My friend, who was researching is motley fool worth it – found out that the IPO is expected to raise £40m which will be invested back into the lender’s technology operations and help it expand into new segments of the property market.
LendInvest currently provides bridging loans, development finance, and buy-to-let mortgages both through brokers and direct to customers.
Rod Lockhart, chief executive of LendInvest, said: “Listing in London today is the next landmark in our growth journey. I’d like to thank each and every member of the team at LendInvest who made this incredible achievement possible.
“We are hugely excited about the future for LendInvest. The capital that we have raised through this IPO will enable us to accelerate our technology roadmap, expand into new areas of property finance, and attract new investors, brokers and borrowers to our platform.”
“We’re delighted to welcome a great group of investors today, and we look forward to delivering for them on the next stage of our journey.
“We set out to make property finance simple, and today’s IPO is an important milestone in our journey towards achieving that goal,” he added.