Midwich Group floats on London Stock Exchange
Midwich A/NZ is delighted to announce that its parent company, Midwich Group, is now listed on the AIM market of the London Stock Exchange.
Through an Initial Public Offering (IPO), Midwich Group raised gross proceeds of £75.2m at 208 pence per ordinary share. Midwich Group now has a market capitalisation of £200m.
Midwich’s standing in the market is underscored by its proven buy and build capabilities, strong financial track record and envied distribution network within the AV and document solutions industries. Long-standing relationships with over 300 vendors including Samsung, LG, Epson and NEC support a comprehensive product portfolio across major AV categories such as large format displays, projectors, digital signage and printers. With a customer base of approximately 10,000, most of which are professional AV integrators and IT resellers, Midwich services the corporate, education, retail, residential and hospitality sectors. The Group’s move into the public market bolsters its continued growth and influence on a global scale.
Midwich Group managing director Stephen Fenby says, “We are delighted to announce the pricing of our IPO and admission to AIM. Today represents an important milestone in the Group’s history and becoming a public company further enhances Midwich’s leading competitive position as a specialist AV and document solutions distributor to the trade market. I would like to welcome our new shareholders and I am very excited about the next stage of our journey as we continue to grow both in the UK and internationally.”
Midwich A/NZ managing director Michael Broadbent adds: “As one of Australia and New Zealand’s premier importers and distributors of AV, data distribution and display technology, we are hugely excited about the opportunity that Midwich becoming a plc represents. We’ll continue to offer all our vendors and customers the highest level of service as we look to continue to develop our market leading offer and gain exposure globally.”