Celtic's Ofex goal
Article Date: Sep 09 2000Irish financier Peter Kerrigan aims to raise up to £1 million for Celtic Invoice Discounting, which he claims to be Ireland's first discounter of small trade invoices, through an offer on J P Jenkins' market. Robert Tyerman reports.
Founded only two years ago, as the first company in the Irish Republic to provide invoice discounting for smaller companies with bills of up to £200,000, Celtic has modelled itself on Manchester-based Ashley Commercial Services, which holds half of its shares. John Searson of Birmingham-based Brook Corporate Finance, says the company is signing up four new clients a month.
Celtic made pre-tax profits of £200,000 last year and promises to pay a dividend in its first year of Ofex life. The issue share price has not yet been fixed and the float will be analysed in OffExchange, the independent voice on Ofex.
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