Wilson set for March float
Article Date: Feb 23 2006
International consulting firm Scott Wilson hopes to raise £72 million from institutional backers, ahead of its imminent flotation on the London Stock Exchange’s Official List. Brewin Dolphin will act as sponsor to the fundraising.
The firm, which generated sales of £160 million in the year to April 2005, specialises in projects related to engineering, transportation and environmental/institutional development and operates out of offices in Johannesburg, Shanghai and Warsaw to name just a few. Customers range from governments through to large multinational companies.
As for the timing of the float, management notes that the proceeds will be used to repay debts, top up pension fund contributions, finance acquisitions and fund further organic growth. ‘[We believe this] will enable us to accelerate growth and sustain or improve our position amongst our peers,’ chairman Geoff French says.
Expected to make its market debut on 15 March, Scott Wilson should be valued at around £112 million when trading begins.
