logo-loader
viewIntosol Holdings PLC

Intosol begins trading on the LSE main market, launches post-listing open offer to raise up to £5mln

The luxury travel company said it expects to offer up to 5.0mln shares at a price between 100p to 200p in a post-listing open offer. In late morning trading, the shares were changing hands at 102.50p each

Holidays
Intosol said the offer proceeds are expected to be put towards marketing, expanding into new markets, and the development of new luxury travel products

Intosol Holdings PLC (LON:INTO) saw its shares begin trading on the London Stock Exchange main market on Monday, as it also launched a post-listing open offer to raise up to £5mln.

The luxury travel company said it expects to offer up to 5.0mln shares at a price between 100p to 200p in a post-listing open offer. In late morning trading, the shares were changing hands at 102.50p each.

READ: Aston Martin moves slowly into gear in conditional trading

The group said the offer proceeds are expected to be put towards marketing, expanding into new markets, and the development of new luxury travel products.

Prior to the new open offer, Intosol said it currently has 11.5mln shares in issue, prior to the new open offer, and a market capitalisation of around £11.4mln.

The company said it chose a London listing to increase is profile in the English-speaking market, and help to expand its Soul Private Collection.

Safari lodge development

The Soul private collection is currently focused on South Africa, where the company is completing the purchase of its flagship Oceans Wilderness, a nine-bedroom boutique hotel, as well as initiating the development of a commercial safari lodge in the Leadwood Big Game Estate.

The group reported 10% year-on-year organic revenue growth in the last ten years, with full-year 2017/18 revenue of £6.5mln.

It said it has a client base of over 15,000 individuals, primarily in Germany and Switzerland, and a network of 3,500 hotel and agency partners worldwide.

Intosol’s executive chairman Rainer Spekowius said: "The listing facilitates the next stage in our growth strategy primarily through the development of the SOUL Private Collection and expansion into English-speaking markets."

He added: "We have a number of unique and exciting opportunities in the pipeline on the private travel design side and are focused on completing the acquisition of Oceans Wilderness and beginning construction of our Safari Lodge to provide increased margins and profitability.”

Quick facts: Intosol Holdings PLC

Price: 9.5 GBX

LSE:INTO
Market: LSE
Market Cap: £1.26 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Intosol Holdings PLC named herein, including the promotion by the Company of Intosol Holdings PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read