RARE books dealer Scholium Group yesterday said it plans to begin trading on Aim this Friday, having raised £8m.
The company plans to use the proceeds of the share placing to increase the day-to-day trading stock of Shapero Rare Books, trade in the wider rare and collectibles market and for general working capital purposes. Its market capitalisation is expected to be around £13.2m.
WH Ireland is acting as nominated adviser and Whitman Howard is acting as broker on the flotation.
“We are delighted to have received strong support from both institutional and retail investors,” said chief executive Philip Blackwell, who left the eponymous academic book retailer Blackwell’s amid a public family feud. “The market for rare and collectible items is growing internationally alongside global wealth, and London is a key centre for this trade.”
Chairman Jasper Allen is the former founder and chairman of Noble Investments, which deals in and auctions collectible items.