XCAP Securities, an independent, full service stockbroking, corporate advisory and market-making business, has completed a £5m share placing and joined London’s Alternative Investment Market. The company sold 111,111,109 shares at 4.5p each to a variety of institutional and private client investors in a move that values it at approximately £17.5m. Proceeds from the placing will be used to maximise regulatory capital levels so that the company can provide substantial trading books and provide general working capital.

XCAP already boasts 50 employees and consultants and its corporate team has already completed five fundraisings for AIM companies since May 2010. The company has been appointed as broker to eight AIM companies and has built a rich pipeline of opportunities. It is a market maker to 179 stocks and intends to grow that to around 500 stocks over the next 12 months. In its asset management arm, a team recruited from Deutsche Bank is now well established and based in the company's Wilmslow office. Significant funds expected under management during the full year 10/11.

Daron Lee, XCAP’s chief executive, said: “We are delighted to be able to announce our admission to trading on AIM. We have had extremely positive reactions from a wide range of investors and the fact that our IPO completed successfully in challenging market conditions is testament to the long-term growth potential offered by XCAP. Our Corporate, Market-Making, Retail and Institutional Broking teams have made an extremely encouraging start and the immediate outlook is positive. We look forward to entering the next phase of our growth and delivering value for all shareholders.”

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