North East pawnbroker and currency shop plans to float on stock market

Ramsdens is planning to float on the London Stock Exchange.

The retail, currency exchange and pawnbroking business, which has 127 UK stores and has its headquarters in the North East, has said it plans to float on the London Stock Exchange.

The move is expected to raise £15.1million and its Market Cap on Admission expected to be £26.5million.

The group is the main shirt sponsor for Premier League football club Middlesbrough FC, making it one of only four UK-based premier league sponsors.

In addition to its outlets in the North East, with its offices in Middlesbrough, it also focuses much of its business in Scotland and South Wales, with a growing online presence.

The company served over 700,000 customers across its different services in its latest financial year.

Ramsdens is fully authorised by the FCA for pawnbroking and credit broking activities.