BusinessCorporate FinanceWebOrator set to float

WebOrator set to float

Hacker Young has helped WebOrator, the online business marketing service, raise more than £225,000 through a share listing on OFEX, preparing the company to list on the Alternative Investment Market.

WebOrator provides a ‘free to user’ service for companies looking to attract new clients. Richard Simmons, partner at Hacker Young, said: ‘WebOrator is operating within one of the fastest-growing channels of communication and has achieved more by taking their concept to the point of a deliverable product in two years than many other organisations achieved with considerably more funding.’

According to Ernst & Young, the secondary issues market has remained buoyant despite the weakness in the flotation market.

In the first five months of 2002, £6.6bn was raised through secondary issues for companies listed on the London Stock Exchange, compared to £3.3bn raised in the new issues market for the same period.

Ernst & Young’s Andrew Raca said: ‘Investors continue to seek out opportunities in quality companies, but they are now focused more intently on those with proven track records.’

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