01 Feb, 2008
Will Henley - 01-Feb-2008
Positive Solutions has appointed corporate
finance advisory firm Lexicon Partners to assist it with its
planned stock market flotation in 2010.
Lexicon assisted Hargreaves Lansdown on its successful floatation
A PosSol spokesman says the appointment is a "signal of intent"
that it is serious about a 2010 target date to float the company.
Speaking at PosSol's national forum event in Birmingham yesterday,
chief executive Jim Reeve stressed any movement toward the stock
market would still depend on market conditions and company
Lexicon Partners advises on public and private mergers and
acquisitions, equity and debt capital raising. It has assisted on
more than 110 completed transactions with a total market value in
excess of £35 billion.
Reeve also told partners in Birmingham that PosSol is currently
exploring its wrap options with a change in direction perhaps
needed. He said: "Positive Solutions needs to be in that space."
He said the company is considering building its own wrap
proposition, although this is at present the "least favoured"
He 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, white labeling one - all of those
things. I just want to understand what are our options."