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WorldSpreads Group, a spread betting products specialist, is to develop its business after raising some £5.7 million, before expenses, through joining AIM. Its shares were valued at 47p each giving the group a market cap of more than £18 million.

The IPO’s nominated adviser and broker was Collins Stewart Europe while Ernst & Young was the reporting accountant.

Ernst & Young’s team was led by transaction advisory services partner Sinead Munnelly. “The main challenges in transactions of this nature are the tight deadlines, but WorldSpreads’ management and advisers worked well together to meet the timetable,” she said.

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