The announcement of an AA IPO sent Cenkos Securities share price soaring by over 15 percent on Friday. Acromas Holdings revealed that it was looking to float the roadside assistance company in a deal that could value the company at £4bn. The same parent company had previously floated Saga on the stock exchange.
In a market announcement, Cenkos Securities confirmed that it has been appointed as the sole bookrunner to the AA IPO and as such will see an uplift in revenues from associated fees:
“Cenkos Securities plc is p leased to announce that it has been appointed as the Sole Co- ordinator and Bookrunner to AA Limited’s forthcoming IPO . A successful flotation would have a significant impact on the Company’s current year revenues.”