Investment company Ora Capital Partners floated on AIM this morning with a market capitalisation of £120m.
The company raised £35.2m upon flotation and shares had an initial price of 120p each.
Ora, led by city financier Richard Griffiths, is raising funds to reinvest in up and coming companies and is on the look-out for new entrepreneurial talent.
Griffiths set up the business after he left investment bank Evolution in 2005 where he was chairman.
The company has bought shares in two quoted companies, Kanyon and Oxeco, as well as nanotechnology company Nanocco Tech.
“We believe that the placing and ORA's admission to AIM will enable the company to progress its strategy to grow and develop businesses which we identify as having significant potential, providing such businesses with both capital and expertise,” Griffiths said.
Smith and Williamson Corporate Finance Limited is the company's nominated adviser and Kaupthing Singer and Friedlander Capital Markets Limited is financial adviser and broker to the Company.
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