Acquisition vehicle plots IPO to become LSE's third Northern Irish company

The London Stock Exchange is due to welcome its third Northern Irish company early next month.

Rockpool Acquisitions, a special purpose acquisition company (SPAC), is planning to list shares on the exchange on 5 July.

The company will use the fundraising to acquire Northern Irish businesses and help them access growth capital.

Rockpool said it is likely to target acquisitions of up to £20m and will focus on Northern Irish companies with international outlooks.

Through its London listing, the company wants to raise £1.5m. Within 12 months, it is aiming to complete a reverse takeover, which will require the publication of a prospectus and an application to be re-admitted onto the stock exchange.

“Our decision to list on the main market of the London Stock Exchange makes both strategic and commercial sense as we believe that there are a number of excellent Northern Ireland-based companies that would benefit from access to the deeper pools of capital that a listing on London’s most prestigious market provides,” said Mike Irvine, co-founder and non-executive director of Rockpool.

“The Northern Ireland business community has a strong heritage of entrepreneurship but has not necessarily taken full advantage of the public markets. We see Rockpool as an opportunity to start to address that situation.”

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