Home news Concierge service Ten eyes London float

Concierge service Ten eyes London float

85
0


A concierge service which counts Barclays, Coutts and Maserati among its clients is close to pulling the trigger on a London stock market listing.

Sky News understands that Ten Group, which was set up nearly 20 years ago, has appointed Jefferies, the investment bank, to oversee a flotation on the junior AIM market.
Sources said the float could be announced as soon as the next couple of weeks, although the size of any fundraising was unclear.
Ten was founded by Alex Cheatle and Andrew Long, whose shareholdings will make them paper multimillionaires following a public listing of the company’s shares.
The listing will come amid growing demand from blue-chip companies for premium services to offer their clients.
According to Ten, more than 60 million people globally are eligible for the services supplied by the company, which employs about 550 people.

It offers a range of travel and lifestyle concierge services, such as access to music, sporting and other live event tickets.
Ten competes with companies such as Quintessentially Group, which has also explored a sale in recent years.
However, the recent financial performance of Ten is unclear.
Accounts for the year to August 2016 filed at Companies House show that Ten Lifestyle Holdings made a loss after tax of nearly £3m.
A spokesman for Ten declined to comment on its flotation plan.

Source: Sky News