2017 Top Trust Company floats on London Stock Exchange - valued at £310 million

14/03/2018 News Team

2017 eprivateclient Top Trust Company JTC has been admitted to trade as a public company on the London Stock Exchange (LSE) from 14 March 2018.

Having previously announced its intention to undertake an initial public offering (IPO) and having raised £243.8 million in institutional investment prior to listing, JTC was admitted to the LSE this morning using the ticker JTC and with a market capitalisation of £310 million.

Headquartered in Jersey, JTC has a 30-year track record in providing services for international private and institutional clients, with the firm having experienced significant growth in recent years through organic growth, mergers and acquisitions.

Today, the firm has a presence in 17 different jurisdictions in Africa, Americas, Asia-Pacific, the British Isles, the Caribbean and Europe and employs more than 550 staff.

Nigel Le Quesne, chief executive of JTC, said: “This is a fantastic opportunity for JTC. Having grown the business over the last 30 years into a leader in the administration services market for funds, corporate and private clients, this is the next logical step in our strategy and will create a long-term capital base for the business. The IPO will provide us with access to the capital markets, as we look to deliver future growth, both organically and through our targeted acquisition strategy in a sector which we view as ripe for consolidation."

The flotation on the LSE represents a move away from being a private equity-backed company, having received investment from CBPE Capital in 2012 to enable its global expansion, to a public company. CBPE has relinquished its shares as part of the IPO.

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