Dealings commenced at 8am on 29th December 2020 under the ticker VCAP.

In conjunction with the admission, a total of over eight million new ordinary shares were placed with institutional and other investors at a price of 38p per share (the ‘placing price’), raising gross proceeds of £3.1m for the company.

•   Promises to brokers are over, it's all about delivery, says Nick Baker
•   1pm changes name to Time Finance
•   Beware of misleading funding commitment headlines, claims Interbridge director

Upon admission, Vector Capital—which provides B2B loans to SMEs based in England and Wales for general working capital purposes, bridging ahead of refinancing, land development and property acquisition—will have a market capitalisation (at the placing price) of approximately £16m. 

The net proceeds of the placing will provide Vector with the financial flexibility to further increase its lending capacity and satisfy the demand for loans provided by the company. 

Allenby Capital acted as the nominated adviser and broker to Vector Capital.

Agam Jain, CEO at Vector Capital, said that the lender’s debut on AIM represented a significant milestone and an exciting opportunity for the business.  

“We are delighted with the positive reception received from institutional investors and we are pleased to welcome them on board. 

“Over the last two decades, we have built up a profitable, cash generative business and become a trusted lender by brokers, and our placing and admission to AIM enables us to increase our lending power and scale the business. 

“With a strong pipeline of loans underpinned by market demand, we look forward to executing our growth plans and delivering returns to our shareholders.”