LETTING & ESTATE AGENT

Martin & Co shares climb in first day on stock market

Martin & Co shares climb in first day on stock market

Martin & Co became the latest property agency firm to trade on the stock market when it made its debut on AIM yesterday.

Raising a gross £10.4m, shares in the company rose by 16% by noon yesterday, valuing the company at £22m.

Chief executive Ian Wilson said: “The group is excited to begin its next phase of growth as a public company. It is a strong endorsement of our business that it has attracted such high-quality institutional shareholders on its IPO.

“The group has a clear strategy and believes it is well placed to further consolidate its position as one of the UK’s largest residential letting agents and build out its estate agency services.”

Bournemouth-based Martin & Co is best known as a lettings franchise chain, but last year launched into the residential sales market.