Vestpa Plc a newly incorporated company is to float on AIM in June in order to raise money to make acquisitions.
The company is looking to acquire assets in a range of different sectors including property, engineering, leisure, media and professional services. Its geographic range is also very wide encompassing Europe, North America and Asia.
The company says that it feels it has a very strong management team in place in order to mitigate the risky nature of the business.
It has also vowed to offer shareholders the chance to liquidate the business should the company fail to make any acquisitions within its first 18 months.
The company is being led by executive director John McLean, a founding member of IPO investment group Albany and managing director at luxury house builder Fairfax Classical Properties.
James Cane is joining as a non-executive director, a role which he previously carried out at the Lambeth Building society until its recent merger with Portman.
Thomas Vaughan, is also joining as a non-exec, and brings experience from his time at London-based property group Gander Holdings amongst other appointments.
The company is expected to raise £3.2m and a market capitalisation of £3.7m.
The flotation is due on June 12, 2007 and the nominated adviser and broker for the deal is Blue Oar Securities.
© Crimson Business Ltd. 2007
