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- Shares in London-listed Peel Hunt have risen more than 28% in the past year
Peel Hunt shares rose today after the investment bank revealed it was making more money than expected.
In an update ahead of its annual general meeting today, the group said it had seen “some improvement in the macroeconomic backdrop” in recent months.
He said he had seen “tentative signs of a recovery in equity capital markets activity.”
Revenue surge: Shares in Peel Hunt rose on Thursday after the group revealed it was making more revenue than expected.
The group said: “During the period, we have advised clients in relation to a number of ECM transactions, including acting as global coordinator on two IPOs executed in the London market, and we have been encouraged by an increase in activity in both our execution services and institutional trading businesses.
‘As a result, revenue for the first quarter of fiscal year 25 is above that of the equivalent period of the previous year and in line with market expectations.’
Peel Hunt was the global coordinator for the initial public offering (IPO) of computing company Raspberry Pi last month, which raised £172.9m.
The company’s shares are listed on the London Stock Exchange rose 2.87 percent or 3.7 pence to 132.70 pence on Thursday, having risen more than 28 percent over the past year.
IPO activity is on the rise after bottoming out in the fourth quarter of last year.
In total, eight companies went public on the London Stock Exchange between January and the end of June, raising £513.8m.
Online fashion giant Shein has also reportedly filed paperwork for a London listing, which could end up being the biggest IPO in British history.
Last month, Peel Hunt revealed a £3.3m annual loss amid rising costs and a shortage of listings.
Twelve months earlier, the investment bank’s loss amounted to 1.5 million pounds.
For the year to March 31, group revenue rose 4 per cent to £85.8m, amid improved investment banking fees.
Basic losses per share widened to 2.7 pence from 1.1 pence in 2023, and the group did not declare a dividend for the year.
However, the company’s balance sheet remained strong, with net assets of £91.8m and a 38.3 per cent increase in cash balances to £37.9m, well above regulatory requirements.
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