UK investment fund RM Secured Direct Lending is planning to float on the main market.
The fund, which lends to small and medium-sized businesses in the UK, will announce the IPO tomorrow. It is looking to raise up to £100m from the float and is being advised by N + 1 Singer.
The investment manager, RM Capital, was started six years ago, and since 2012 has advised and managed more than £1bn worth of transactions in sterling, and €600m in euros.
RM Capital has a £74m portfolio of prospective loans, and a pipeline comprising £72m of prospective loans.
The company plans to deliver a dividend yield of four per cent in the year to 31 December 2017, with a yield of 6.5 per cent the year following.