Industrials & Capital Goods
Investec acted as Joint Bookrunner and Broker for Ricardo plc on its c.£29m equity raise
Investec acted as Joint Bookrunner and Broker for Ricardo plc on its c.£29m equity raise, including a retail offer via Primary Bid.
Over a three day marketing process, Investec gathered support from existing shareholders as well as introducing a significant number of new investors to the company’s shareholder register.
Investec was able to help longstanding client Ricardo raise £29 million to reduce leverage and strengthen its balance sheet.
The proceeds will ensure the company can continue to invest in organic growth opportunities despite the continuing uncertainty in some of its markets that has arisen from the impact of Covid-19.
Ricardo plc is a global engineering, environmental, and strategic engineering consulting company. The business operates across a range of sectors, including passenger cars, commercial vehicles, rail, defence, motorsport, energy, and environment. Ricardo is listed on the Main Market of the LSE with a market cap of c.£166m.