A provider of bridging loans and development finance plans to launch an initial public offering on London’s AIM market.
Vector Capital aims to raise £3.1m through the stock exchange float at the end of December. The deal is expected to value the company at £16m.
Vector makes real estate loans to small and medium-sized businesses, mostly for bridging finance, land development and property acquisitions, and had a loan book of £34.7m across 61 loans as of the end of September. The company’s loans are usually for 12 months and carry fixed interest rates of 11%-14%.
