Ten Lifestyle Holdings Ltd has confirmed its intent to float on London’s Alternative Investment Market, in an IPO looking to raise somewhere between £30-40m.
Jefferies International Ltd is acting as the nominated adviser and sole bookrunner of the raise. There has so far been no confirmation of the date of the float.
The company is a lifestyle and travel platform, providing concierge services to high and ultra-high net worth individuals, but with a particular focus on corporate clients such as luxury brands and private banks.
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The company sees admission to AIM as a means to provide capital for expansion. The group is looking to enhance its brand recognition and profile among corporations, members and potential suppliers. They also feels that a higher profile will allow Ten Lifestyle to attract talent for positions in senior management and throughout the company.
CEO Alex Cheatle said of the potential float:
We are excited to announce our intention to IPO and see going public as the 'beginning of the middle' of our growth strategy. We have invested in recent years to build a global footprint and a strong technology platform. We believe that the IPO will now help us to achieve our objective of becoming the most trusted and pre-eminent provider of global lifestyle and travel concierge services to the world's wealthy and mass affluent.