Business

Rockpool shares to start trading on London Stock Exchange

Rockpool Acquisition's shares will begin trading today on the London Stock Exchange
Rockpool Acquisition's shares will begin trading today on the London Stock Exchange Rockpool Acquisition's shares will begin trading today on the London Stock Exchange

NEW Northern Ireland-based special purpose acquisition company (Spac), Rockpool Acquisitions, will be admitted to the main London Stock Market today.

It has raised a total of £1,235,000 before coming to the market in a company formed to undertake the acquisition of a business headquartered or materially based in Northern Ireland.

And Rockpool's entire ordinary share capital of 12,725,003 shares has been admitted to the Stock Exchange ahead of trading commencing at 8am this morning.

Mike Irvine, co-founder and non-executive director at Rockpool, said: “Our admission represents a great opportunity to bring much needed expansion capital to the Northern Ireland market.

“Now that the company is trading on the London Stock Exchange, the board will refine its list of potential Northern Ireland-based businesses suitable for acquisition and intends to conclude its initial transaction within 12 months.

“The region has a wealth of fast-growing companies, run by strong management teams, that could benefit from access to the significant pools of capital that a Listing on a world leading stock exchange can offer.”

Rockpool - whose other directors are former senior Anglo Irish Bank official Neil Adair (55) and London lawyer Richard Beresford (53) - is only the third Northern Ireland-based business listed on the London Stock Exchange.