Infoserve Group PLC
Bringing Business to You
Archived News - June 2006
Infoserve Floats on AIM
June 2006
Infoserve successfully raised £2 million with the aid of broker WH Ireland ahead of its recent AIM launch and intends to invest the cash on expandingThe company currently operates 130 websites itself and powers 150 more providing contact details for more than 2.7 million UK businesses. Via these sites, consumers can search for everything from driving schools in Doncaster to accountants in Aberdeen.
Infoserve provides premium listings to those included in its database, sells advertising space on its websites, and also works with various partners including The Daily Telegraph, Sky, The Daily Mail, and Football League.
Chief Executive Steve Barnes said: “We currently have 11,000 paying customers but we hope to get this up to 80,000 before too long.”
Post flotation, the cash raised will be used to help drive this ambition by increasing the number of sales employees from the current 120 to around 300 in the next 18 months.
Having initially placed its shares at 41.5p, Infoserve was valued at £6 million when trading began on 23rd June. The shares have since gone up to 43p.