All Leisure Group to float – 1 June 2007

All Leisure Group plans to float on the London Stock Exchange’s Alternative Investment Market (AIM) to raise around £30 million.

The group, which includes cruise operators Voyages of Discovery and Discover Egypt, is seeking a listing to expand its product offering and purchase or lease extra ships in a growing cruise market.

The intended floatation will be by placing new and existing ordinary shares in the company with institutional investors.

Of the £30 million raised, £10 million will be new money, with a likely capitalisation of £80 million.

Chairman Roger Allard said: “Our decision… is to enable us to pursue more vigorously the strategy of expanding our quality cruise offering in what is a fast growing market.”

The group owns cruise ship Discovery and will lease a second ship Explorer II from November for six and a half years.

Blue Oar Securities has been appointed the nominated adviser and broker to the company, which is an ATOL and Abta bonded operator.

Share article

View Comments

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.