Peel Hunt in talks with rivals to offer retail investors access to IPOs
Peel Hunt is in talks with rivals about setting up a standalone company that would offer retail investors access to public offerings and other listed fundraisings.
The UK broker has sounded out interest from potential partners including Numis, Hargreaves Lansdown and Investec about a deal that could include taking stakes in the new independent business, according to people familiar with the matter.
AJ Bell and Interactive Investor have held discussions but are no longer involved.
The company has a market capitalisation of just over £100mn after shares in the company dropped by close to two-thirds since it listed in 2021, despite having £76mn of cash on its balance sheet at the end of June.
Peel Hunt, like its peers, has been hit by the slump in IPOs this year, although work advising on other sorts of share placings and mergers and acquisitions has been more active.
This story originally appeared on: Financial Times - Author:Daniel Thomas
