Camden Market owner sees shares jump on first day of Aim dealings
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Version 0 of 1. Camden Market owner Market Tech is in demand on its first day as a public company. The company, the biggest flotation on Aim this year, has seen its shares jump from the 200p placing price to 226p, valuing the business at more than £830m. The placing, which was oversubscribed, raised £100m which will be used to develop its e-commerce platform, market.com, and to develop the site of the market in north London. Some of the proceeds will go towards developing the five acre Camden Lock Village, a canal-side site with residential, commercial and retail space as well as a new primary school. The business is backed by Israeli billionaire Teddy Sagi, founder of online gambling software company Playtech, who bought the Camden stables market site in March for £400m and purchased Camden Lock market in October for £100m. The 11 acre site attracts around 28m visitors a year to its mix of bric-a-brac stores, arts and crafts shops, and fast food vendors. But some stallholders are said to be concerned about the redevelopment plans, fearing they could harm the uniqueness of the area. |