Shore Capital acts as Nomad & Sole Broker on a £20m equity raise by Helios Underwriting plc.

Helios, the unique investment vehicle which acquires and consolidates underwriting capacity at Lloyd’s, announced proposals to raise approximately £20 million through the issue of new shares pursuant to a placing, subscription, open offer and the acquisition of certain limited liability Lloyd’s underwriting vehicles.

The new shares are to be issued at 120p representing a 4% premium to the market price prior to announcement. This fundraise would effectively double Helios’ market cap, providing the company with near-term firepower to exploit hardening market conditions at Lloyd’s, an improving LLV acquisition pipeline, pre-emptions and this year’s Lloyd’s capacity auctions.

New share issuance is subject to shareholder approval.

Full announcement can be found here.

For further information please contact:  

Shore Capital +44 (0) 20 7408 4090

Corporate Advisory: Robert Finlay / David Coaten

Corporate Broking: Henry Willcocks

For Shore Capital media enquiries, please contact: 

Adele Gilbert: +44 (0)74 8477 8331

Note to editor

About Shore Capital

We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income.  We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM.  Shore Capital is also the 3rd largest market maker by number of AIM stocks covered.

Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK, Europe and US.

Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.