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British lender Vector set to make debut on London Stock Exchange

Vector Capital, specialist lender which provides short-term loans for small businesses, planning to float on stock market on December 29

A British lender is set to make its debut on the London Stock Exchange. 

Vector Capital, a specialist lender which provides short-term loans for small businesses, is planning to float on the stock market on December 29. 

Expansion plans: Vector Capital, a specialist lender which provides short-term loans for small businesses, is planning to float on the stock market on December 29 

The £16m firm will announce its intention to float on London’s junior market AIM today, raising £3.1m as it sells new shares for 38p each. 

It will use the fresh cash to fund investment in new businesses – and generally focuses on property developers, securing its loan against the buildings. 

Agam Jain, chief executive and founder of Vector, said: ‘Over the last two decades, we’ve been serving the needs of property developers in the small business market. 

‘These businesses need to be supported and have access to fit-for-purpose funding.’ Vector Capital’s loan book grew 19.7 per cent in 2019 to £4.5billion. Last year it made a profit of £2m. 

Read more at DailyMail.co.uk