Ovum floats

Buoyant analyst AIMs for 10 March market debut

Shares in analyst house Ovum are set to start trading on AIM from 10 March following a successful institutional share placing of £10.2m.

The flotation will give the London-headquartered analyst a market capitalisation of £23m, with shares set to start trading at 190p.

The placing will raise £7m which the company said in a statement will be used to finance "continued expansion through new product development and the acquisition of complementary businesses or research teams".

Ovum was founded in the 1970s and still counts many of its early team doing research and offering consulting. The company is known for its expertise in telecoms, software and IT services and now has a string of offices around the world.