Watkin Jones plc (LON:WJG) a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, has told DirectorsTalk about the commencement at 08.00 a.m. today of dealings in its Ordinary Shares on AIM, a market operated by the London Stock Exchange plc. Zeus Capital acted as nominated adviser, joint bookrunner and joint broker to the Company with Peel Hunt as joint bookrunner and joint broker. The Company’s ticker is WJG. Chief Executive Officer, Mark Watkin Jones talks to DirectorsTalk about growth drivers, the purpose built student accommodation market, replication to the private rented sector, the business model, institutional partners and how being listed on the London stock exchange will benefit the company.
Watkin Jones Plc is one of the UK’s leading construction and development companies. Established in 1791, Watkin Jones has grown steadily over two centuries to become one of the most successful and respected names in the building, property development and construction industries. The company is highly experienced in delivering new developments, ranging from homes to commercial, industrial and mixed use schemes and has successfully delivered more than 25,000 student units throughout the UK since 1999.
The Company, together with Zeus Capital and Peel Hunt, successfully raised £131.3 million (before expenses) by placing 131.3 million existing and new ordinary shares with investors at a placing price of 100 pence per share (the “Placing”). Watkin Jones’ market capitalisation on admission, based on the placing price, is £255 million. The admission to AIM will provide a platform for the Company and its subsidiaries to execute its growth plans; raise the profile and enhance the reputation of the Group; incentivise the management team and wider employee base; and allow incumbent shareholders to realise a proportion of value held whilst retaining significant shareholdings to benefit from future upside.
Zeus Capital Director of Equity Research Andy Hanson shares his thoughts with DirectorsTalk on Watkin Jones Plc (LON:WJG) who successfully launched today on the London Stock Exchange AIM market. Andy talks about the history of the business, the student market, differences from peers and why it was so popular with institutional investors.
