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Lexicon to advise on 2010 flotation plans

Positive Solutions has appointed corporate finance adviser Lexicon Partners to help with its stockmarket flotation which is planned for 2010.

A spokesman says the appointment is a “signal of intent” that it is serious about its target date to float the company.

Chief executive Jim Reeve stressed that any move toward flotation will depend on market conditions and company performance.

Lexicon Partners advises on public and private mergers and acquisitions, equity and debt capital raising. It advised on the flotation of Hargreaves Lansdown last year. It has assisted on more than 110 completed transactions with a total market value of over 35bn.

Reeve told partners that Positive Solutions is also exploring its options on wrap. He said: “Positive Solutions needs to be in that space.”

He said the firm is considering building its own wrap, although this is presently the “least favoured” option.

Reeve said: “We are at the start of the journey. In the next two months we will have done the work and identified the possibility of building our own one, hiring one or white-label-ling one. I just want to under-stand what are our options.”

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