Ten Lifestyle Group floats on the AIM
The leading technology-enabled lifestyle and travel platform for the world’s affluent is celebrating its first day of public trading on the Alternative Investment Market (AIM).
London-headquartered Ten Lifestyle Group is celebrating today (29 Nov) after completing its floatation on the London Stock Exchange’s Aim market, valuing the company at £104.8m.
Shares in Ten Lifestyle Group officially commenced trading at 08:00 GMT on AIM, under the ticker: TENG. On admission, the Company has 78,240,025 Ordinary Shares in issue, which puts approximately 26.9% of shares in public hands.
London-based Ten, which was founded in 1998, is a technology-led personal concierge service featuring exclusive offers, restaurant recommendations, entertainment ideas, travel guides and more for some of the world’s wealthiest people.
The business focuses predominantly on a corporate client model which includes private banks, retail banks, premium payment cards providers and luxury brands who provide Ten's services to segments of their premium individual customers, who then become Ten members.
Ten will apply the net proceeds of the IPO to further invest in technology, content and operational infrastructure, investment in new markets, and for general corporate purposes.
Alex Cheatle, CEO and co-founder of Ten, said: “Today is a big day for us: we have publically started trading on the London Stock Exchange and we couldn’t be more excited about this new milestone.
“Founded in London almost 20 years ago, we pioneered lifestyle management services to help members live the life they want to live.
“Since then, we have built on our success in the UK market to become an international group with 20 offices serving over 1.6 million registered members through our blue chip corporate client base and private membership.
“This new chapter is a turning point for us and we’re ecstatic about the high calibre of shareholders we’ve attracted. The IPO will enable us to get another step closer towards becoming the most trusted services platform in the world.”
Key shareholders in Ten include top tier investment groups Old Mutual Asset Managers, Soros Fund Management, Herald Investment Trust, Jupiter Asset Management, and Baillie Gifford.
Jefferies International Limited acted as NOMAD and Broker, Memery Crystal acted as lawyers, and BDO LLP acted as accountants.
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