PLUS news

PLUS MARKETS, proudly proclaiming an exceptionally strong upward trading trend since the launch of its new PLUS platform last November, continues to attract new entrants despite wider market volatility. At last count, an impressive 7,870 companies were traded on PLUS, with 220 companies being ‘PLUS-quoted’, having selected the market as their primary listing destination.

March newcomers included Avia Investments, which raised £380,000 at float with the help of adviser Lion Capital. Brought to PLUS by experienced duo Barry Giddings, as chairman, and Nigel Leavy, as finance director, Avia plans to buy or invest in businesses in the healthcare technology sector, where they see potential for consolidation and growth.

Daily Internet debuted on PLUS-quoted with a £3.46 million price tag, having successfully raised £524,000 with the help of Loeb Aron. The company, which provides an array of web hosting solutions including email and domain registration, is led by Abby Hardoon, the entrepreneur who sold Host Europe to Pipex Communications for more than £30 million cash in 2004.

Going against the grain was Silverback Media, which announced it was withdrawing its shares from PLUS and Deutsche Börse ‘at the earliest permitted opportunity’, citing a lack of trades on both, as well as a drain on cash and management resources that outweighed any benefits to shareholders.

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