RCapital's Morses Club to float on AIM
RCapital-backed home-collected credit company Morses Club has published its intention to float on the AIM segment of the London Stock Exchange.
The UK company has not yet revealed how much it aims to raise, a price range, nor whether the listing will provide an exit route for investors or consist entirely of new stock.
Turnaround specialist RCapital acquired Morses Club from administrators for an undisclosed sum in April 2009. The GP then bought Shopacheck Financial Services from Welcome Financial Services in 2014, before merging the two companies in March 2015.
Morses Club works with around 2,500 self-employed agents who sell small cash loans of between £100-1000. The company operates from a network of 100 bricks and mortar branches, with agents collecting repayments from customers' homes on a weekly basis.
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