Mortgage Advice Bureau has completed its move from AIM to the main market of the London Stock Exchange, with trading in its shares commencing this morning (May 1).
The Derby business confirmed that admission to the Financial Conduct Authority’s official list took effect at 8am, with its ordinary shares simultaneously cancelled from AIM. No new shares have been issued as part of the move.
The company’s shares will continue to trade under the ticker MAB1 and retain their existing ISIN. Following admission, the group has 58,021,831 ordinary shares in issue, with 478,775 held in treasury, resulting in total voting rights of 57,543,056.
Peter Brodnicki, chief executive officer, said: “Admission to the Main Market marks an important milestone in MAB’s development, reflecting the scale, quality and maturity of the business we have built since joining AIM in 2014.
“Our reach now spans estate agency, new build, major national digital lead sources, and engagement with customers at an earlier stage of the home-moving journey. Our proposition is underpinned by a proprietary technology platform, with AI increasingly acting as a significant enabler, and a unique dataset built over 25 years of customer interactions.”
He added that the move is intended to broaden the company’s investor base and raise its market profile, with longer-term ambitions to meet the criteria for inclusion in the FTSE 250 index.