SimplyBiz eyes 150 million pound London IPO

British company SimplyBiz is joining a queue of financial services firms preparing for flotations on the London stock market with plans for a listing that could value the group at more than 150 million pounds ($209 million). Huddersfield-based SimplyBiz is working with stockbroker Zeus Capital on a possible initial public offering (IPO), according to a person familiar with the matter.
The group is targeting a market capitalisation of between 140 million pounds and 155 million pounds in a listing that would raise 30 million pounds of new money, the person said. SimplyBiz provides business support and compliance services to more than 3,400 firms, including independent financial advisers and wealth managers.