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UK broker Peel Hunt raises $154 million in London listing

By Reuters

LONDON – British mid and small-cap investment bank Peel hunt has raised 112 million pounds ($153.61 million) in a listing on London’s AIM market, it said on Friday.

Peel Hunt said its selling shareholders expected to get around 72 million pounds from the listing, which will give the company a market capitalisation of 280 million pounds. It also raised 40 million pounds of new capital.

Peel Hunt will have free float of around 40%.

Peel Hunt was founded in 1989 and bought by Belgium’s KBC in 2001 but is now majority-owned by current and former employees after a staff buyout in 2010.

($1 = 0.7291 pounds)