PrimaryBid was pleased to support FTSE 250 Diploma plc, the international group supplying specialised technical products and services, in its latest fundraise.

Together, the Placing, Subscription and PrimaryBid Retail Offer raised approximately £236 million. New and existing retail investors were able to buy shares directly through PrimaryBid’s app and website or via its extensive partner network of investment platforms, retail brokers and wealth managers. They were also able to invest on the same terms as institutional investors and at a 4.2% discount to the closing share price on 16 March 2023.

This was the second time that PrimaryBid has worked with Diploma to include retail investors in its fundraise. 

Diploma will be using the money raised to refinance the amount paid for the acquisition of Tennessee Industrial Electronics, LLC, as well as provide the Group with greater flexibility to execute on its M&A pipeline to accelerate future organic growth.

‍

Diploma CFO, Chris Davies, “This is the second time we have used PrimaryBid and were delighted to have received strong demand from retail investors. We greatly value our retail shareholders and recognise the benefits of broadening this important cohort of investors at every opportunity”.

‍

The PrimaryBid Retail Offer was only available to investors in the UK.

‍