Peel Hunt makes AIM debut

The firm, which specialises in UK mid and small-cap companies, saw its shares initially jump a penny after debuting at 234.0p on the London Stock Exchange’s junior market. Gains were pared back as the session wore on, however, and by 1300 BST the stock was largely flat at 233.41p.

Peel Hunt will use the £112m it has raised through the initial public offering to build on a strong year and expand into Europe.

The City firm - which provides investment banking, research and distribution, and execution and trading services - has benefited from a surge in trading and deal-making during the pandemic, as stock markets fluctuated and companies looked to shore up finances or snap up struggling rivals.

Steve Fine, chief executive, said on Wednesday: "Today marks the next exiting chapter in Peel Hunt’s journey after more than a decade of significant growth.

"We’re delighted to return the company to public markets and take advantage of the opportunity to accelerate our growth plans, building on the strong momentum in our business."