Colleagues Flotation

Yesterday NatWest Markets released the Prospectus for the flotation of Colleagues. Colleagues is one of the UK’s leading providers of consumer direct marketing services.

Over 7 million ordinary shares are to be placed, at 115p per share; this capitalises Colleagues at £26m. The placing will raise £8.2m, of which £1.3m is receivable by the Company. Following the placing, the interests of the Directors and employees will amount to 54.7%.

James Robson, chairman, commented, “The flotation of Colleagues will enable the Group to build on its position as a leading player in the fast growing direct marketing industry and we view the future with considerable confidence.”