Kooth
September 2020
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Healthcare services delivered digitally
Panmure Gordon acted as Financial Adviser, Nominated Adviser & Sole Bookrunner on the IPO of Kooth plc, a leading provider of online mental health services
- Admitted to AIM on 2 September 2020
- Highly oversubscribed institutional offering – deal size increased due to investor demand
Offer price of 200p / £66m market cap on admission
- £16m primary offering for the Company to invest in its growth strategy
- £10m secondary offering – selldown achieved for Root Capital through surplus demand
- Shares closed at 225p on first day of trading (+12.5%)
- Executed the whole transaction remotely due to Covid-19
- Over 20 institutional investors & wealth managers on the share register on day 1
- Full deal size more than covered from pilot fished institutions
- Accessible digital provision of mental health services
- Huge underlying demand for mental health services in the UK
- Subscription-based model with high levels of recurring revenue
- Clear avenues for growth into adult, corporate and international
- Highly experienced management team with proven track record