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Prices & Quotes - UK Markets - JTC (JTC)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 626.00p
Change Today:
-9.00p
Market Cap:
834.61m
Sector:
Financial Services

JTC raises 66m for potential acquisition spree

By Sean Farrell

Date: Friday 30 Apr 2021

LONDON (ShareCast) - (Sharecast News) - JTC has raised 65.9m to reduce debt and leave it room to fund more than 25 potential acquisitions.
The FTSE 250 fund management company placed 10.6m shares with investors at a price of 620p a share - a 1.7% discount to the closing price on 29 April. The shares are expected to start trading on 5 May.

Announcing the placing on Thursday afternoon JTC said it would use the net proceeds to cut its debt and gain greater flexibility to snap up businesses to increase its scale and add services to speed up growth.

JTC has bought INDOS, which provides services for alternative investment funds, and RBC CEES in the past six months. It said it had agreed terms on another acquisition with two in talks and a further 25 in the pipeline.

Nigel Le Quesne, JTC's chief executive, said: "We are delighted to have completed our first placing since listing in 2018 and are grateful for the support shown by our investors. As we begin our latest five-year business plan cycle, the proceeds will allow the group to capitalise on a high quality pipeline of near-term acquisition opportunities with certainty of funding and to continue to deliver on our disciplined and proven approach to inorganic growth in a consolidating sector."

JTC shares rose 1.3% to 639p at 08:56 BST. The shares have more than doubled since JTC's initial public offering in 2018.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

JTC Market Data

Currency UK Pounds
Price 626.00p
Change Today -9.00p
52 Week High 673.00p
52 Week Low 444.00p
Volume 584,280
Shares Issued 133.32m
Market Cap 834.61m

Performance Indicators

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What The Brokers Say

Strong Buy 6
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 8
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

JTC Dividends

  Latest Previous
  Final Interim
Ex-Div 10-Jun-21 24-Sep-20
Paid 02-Jul-21 23-Oct-20
Amount 4.35p 2.40p

Trades for 18-Jun-2021

Time Volume / Share Price
16:57 1,770 @ 626.00p
16:46 11,277 @ 626.00p
16:46 1,770 @ 626.00p
16:38 50,000 @ 628.34p
16:35 423,934 @ 626.00p

JTC Key Personnel

CEO Nigel Le Quesne
CFO Martin Fotheringham