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Curtis Banks plans £85m AIM float

Sipp provider Curtis Banks plans to float on the AIM stock exchange in a move expected to value the business at £85m.

The firm, which started trading in 2009 and currently administers more than 26,000 Sipps, expects to raise £7.5m through the issue of new equity. Trading in the shares is due to commence on 7 May.

Curtis Banks managing director Rupert Curtis says: “Curtis Banks is an ambitious company. We have been successful in building the business to one of the biggest operators in the full Sipp market, however we believe that Curtis Banks has significant further potential.

“We can strengthen our growth plans by raising further capital and admitting our shares to AIM.  The market for Sipps is growing rapidly and we anticipate that there will be increasing opportunities to develop new products and services, as well as further  acquisition opportunities as regulatory changes come into force next year.”

The announcement comes six months after Curtis Banks acquired Pointon York for an undisclosed sum.

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