Travel group Intosol floats in London amid efforts to raise funds for South African expansion
German-based luxury holiday travel company Intosol is floating on the London Stock Exchange today, as it looks for capital to expand its South African boutique hotel business.
Intosol, a high-end travel firm headquartered in Hannover, is listing on London’s main market to fund the acquisition of several hotel sites in South Africa, including a commercial safari lodge in the country’s Leadwood Big Game Estate.
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While the firm’s client base has so far largely consisted of wealthy German and Swiss holiday goers, Intosol is hoping the London listing will help fuel its drive to attract more UK-based customers.
“London is a fantastic city and we feel a stock exchange listing is extremely complementary to our brand, and will facilitate the next stage in our growth,” according to the firm’s executive chairman Rainer Spekowius.
The company said it will start a £5m open offer after the listing. Peterhouse Capital is acting as financial adviser to the firm.