Revamped consolidator due to launch
A revamped consolidator is poised to launch on the Alternative Investment Market following a tie up with three smaller practices and after months of delays.
Vantis plc, formerly known as Jobtel, is understood to be seeking between £5m and £7m from its AIM flotation, which is expected to take place in the next few months.
Vantis is backed by the 22-partner firm Morgan Brown & Spofforth. Spokespeople would not confirm the details.
The three smaller practices include Morton Thornton based in St Albans, Walkers in Chingford and Bradney & Co in Dorking, reports said.
The move will ease market fears after months of a perceived lack of progress. The company has been forced to watch from the sidelines as rival Numerica raised £50m on the AIM in October 2001, while Tenon’s acquisitions afforded it top ten status in the Accountancy Age top 50 league table.