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JTC Plc

Zeus Capital acts as Financial Adviser and Broker to JTC PLC on £310m Main Market IPO

Zeus Capital acts as Financial Adviser, Broker and Joint Global Co-ordinator and Bookrunner to JTC PLC (LON:JTC) in connection with its Admission to trading on the Main Market of the LSE and associated £243.8 million institutional placing.

JTC is a leading independent provider of fund, corporate and private client services and is one of a relatively small number of such providers with global scale and reach.

JTC is admitting to trading on 14th March 2018 with a market capitalisation (based on the placing price of 290 pence) of £310 million.

The Company has raised net proceeds of approximately £15.1 million. These proceeds, together with funds available under a new debt facility, will be used to repay the Company’s existing debt facility. The balance of the funds raised will be used for general working capital and wider corporate purposes. The directors believe the IPO will position the Group for its next stage of development and provide it with an optimal capital structure for future growth.

Nigel Le Quesne, CEO of JTC said “This is a fantastic opportunity for JTC. Having grown the business over the last 30 years into a leader in the administration services market for funds, corporate and private clients, this is the next logical step in our strategy and will create a long-term capital base for the business. The IPO will provide us with access to the capital markets, as we look to deliver future growth, both organically and through our targeted acquisition strategy in a sector which we view as ripe for consolidation.”

For 2018 to date, Zeus Capital is the leading broker for IPOs (on AIM and the LSE Main Market combined) on the basis of total funds raised. The IPO of JTC is Zeus Capital’s second IPO of 2018.

“Zeus Capital provided an exceptional service from start to finish for our LSE main market listing. Their energetic and results focused approach helped to guide us through the process and ensured that JTC was presented to a very high calibre of potential investors. The result of the IPO is an excellent one for the Group and all its stakeholders.” – Nigel Le Quesne – Group Chief Executive Officer of JTC PLC

“Zeus Capital once again stepped up to the plate and delivered a tremendous result for all stakeholders of JTC. CBPE Capital valued Zeus’ leadership and advice throughout the project. Zeus delivered the IPO on the day that they originally forecast at the start of the project, which is no mean feat given the complexity and number of parties involved in the project. Well done to all the Zeus team – superb work!” – Ian Moore – Partner, CBPE Capital

“I am proud that Zeus Capital has been able to help JTC attract such a strong list of blue-chip institutional shareholders. It was a privilege working with such a top quality, professional, management team and we are pleased we were able to deliver almost exactly what we set out to do. This is our second IPO for 2018 and is the largest IPO to come to market this year. We wish JTC all the best on the market.” – John Goold – Chief Executive Officer of Zeus Capital