All Leisure floats onto AIM
Article Date: Oct 03 2007All Leisure Group raised £19.66 million on its first day’s trading on AIM, putting the holiday cruise company’s market cap at a seaworthy £110.5 million.
Shares were placed at 180p each.
All Leisure owns the brands of Voyages of Discovery, Swan Hellenic and Discover Egypt.
The company boasts that 90 per cent of its revenue has been pre-sold before each season, making it highly cash generative.
In addition to this, the interest in cruise markets seems set to grow by an additional 25 per cent to around 1.5 million passengers by 2008, according to the European Cruise Council/PSA).
