Northern Ireland

Rockpool Acquisitions to be listed on London stock market

London Stock Exchange sing seen from below Image copyright Getty Images
Image caption Rockpool aims to make its first acquisition within 12 months of listing.

A company which intends to invest in Northern Ireland businesses is to be listed on the stock market in London.

Rockpool Acquisitions will be a so-called 'cash shell' which will raise money from shareholders and then buy a business or businesses.

It said it has no specific targets yet, but will look at acquisitions of up to £20m which could benefit from at least £1m of additional working capital.

The company expects its shares to start trading on 5 July.

The director of Rockpool Acquisitions are Mike Irvine, a Belfast corporate financier; Richard Beresford, a London lawyer; and Neil Adair, who at one time ran the operations of Anglo Irish Bank in Belfast.

Mr Irvine said: "Our decision to list on the London Stock Exchange makes both strategic and commercial sense as we believe that there are a number of excellent Northern Ireland based companies that would benefit from access to the deeper pools of capital that a listing provides.

"The Northern Ireland business community has a strong heritage of entrepreneurship but has not necessarily taken full advantage of the public markets."

Rockpool aims to make its first acquisition within 12 months of listing.

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