Made Tech Group plc: £180.7 million IPO & £85.4 million Capital Raise

Singer Capital Markets is delighted to have acted as Nominated Adviser, Joint Broker and Joint Bookrunner to Made Tech Group plc on its the admission of its Ordinary Shares to trading on the AIM market of the London Stock Exchange.

The oversubscribed Fundraising raised gross proceeds of £85.4 million at a placing price of 122 pence per share. £15.0 million was raised for the Group, and £70.4m was raised for certain selling shareholders.

The Directors believe the Placing and IPO will enable the Group to execute its growth plans, further enhance its profile with existing and potential customers and assist with the recruitment, retention and incentivisation of existing and future employees. In particular Admission to AIM will support Made Tech’s next stage of growth, including:

• the opening of new offices in Scotland, the Midlands, and the North of England;
• the introduction of new service lines, including managed services and cybersecurity; and
• the expansion of the Group, including hiring senior business leaders, within the health, defence, and local government markets.

Rory MacDonald, Chief Executive Officer of Made Tech, commented:

“Our mission is focused on improving public sector technology. Becoming a publicly listed company will raise the profile of Made Tech, and enhance our ability to serve our existing clients across UK Government. In addition, it will support the next stage of our development as we seek to diversify our offer to customers, open new offices across the UK and hire senior business leaders to drive our expansion. We are extremely excited about this next stage of Made Tech’s journey.

I am delighted that Made Tech received such significant interest from investors, this represents a real endorsement of our strategy and growth trajectory. I welcome our new investors and look forward to working together closely in the future.”

About Made Tech Group plc

Made Tech provides services that enable central government, healthcare, and local government organisations to digitally transform. Founded in 2008 by CEO Rory MacDonald, the primary clients of the Group are the departments, agencies and arm’s length bodies of UK Government. Made Tech has a number of high-profile clients, including the Home Office, DVLA, HMRC, Department for Education, Department for International Trade and the Ministry of Justice.

Ticker: MTEC

Market Cap: £180.7 million*

Website: Click here

*As at 30/09/2021