An asset manager headquartered in the leafy Cheshire surburb home to some of the world's most famous footballers has announced plans for an £87m London float.
Tatton Asset Management, a discretionary fund manager based in Wilmslow, is targeting a listing on the Alternative Investment Market (Aim) next month allowing its founder to cash out tens of millions of pounds in shares.
The listing will raise £41m for existing shareholders and £10m for the company.
Founder and chief executive Paul Hogarth, the firm's largest single shareholder will realise £26.4m from selling down his shares, retaining a 19 per cent stake worth £16.4m.
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Hogarth told City A.M. the company investment will be ploughed into marketing. Tatton wants to broaden its net among the UK's 5,500 independent financial advisers (IFA), it currently has 353 partner firms.
Other shareholders set to benefit alongside Hogarth include 130 of Tatton's IFA network, which will sell down their positions when the firm is admitted to the Aim in July.
In a stock market announcement earlier today Hogarth said:
The initial public offering of the Tatton Asset Management marks a very important and exciting milestone in the development of the group, allowing us to build our market profile further, reward our staff and other stakeholders, and provide access to the capital markets when needed in the future.
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