Camellia planning £265m switch to Aim
THE world's second biggest private tea producer is brewing up a move from the main market to Aim next month.
Camellia, whose businesses span agriculture and horticulture, engineering, food storage and distribution, as well as Duncan Lawrie private banking, will be one of the largest companies on the junior market with an estimated value of £265million. It believes the switch will enable it to continue to appeal to institutions, while tax benefits make it more attractive to retail investors. It should also be able to act more quickly on potential acquisitions.
Camellia said: "Aim will offer greater flexibility with regard to potential future corporate transactions and should enable the company to agree and execute certain transactions more quickly and cost effectively than a company on the official list.
"Aim provides a more suitable market and environment that should simplify the administrative and regulatory requirements of the company."
