Quantity surveyor prepares to list on Alternative Investment Market to raise money for acquisitions
Cyril Sweett is preparing a flotation on the Alternative Investment Market, in a move which would make it the first listed QS in the UK.
The consultant will hold an EGM next month to allow its employee shareholders to vote on the issue. If the vote is carried, the company intends to list on AIM, London’s junior stock market, later this year.
The company believes the listing will raise money to make acquisitions. It intends to appoint Brewin Dolphin Securities as broker, and change the company name to Cyril Sweett plc.
Cyril Sweett reported pre-tax profit of £4.3m for the year to 31 March 2006, on a turnover of £44.8m.