Shares in Michael Bailey Associates rose by a pound to £16.25 in the contract staffing agency’s first morning of trading on the Easdaq small companies index.
UK based MBA went public with the aim of raising €7.5 million to fund organic expansion and acquisitions.
MBA supplies contract IT staff to large companies, including IBM and Banque Paribas in the UK, Netherlands and Germany and currently has around 330 consultants in the field.
The company released a total of 3,777,503 shares at €15.25, giving an initial capitalisation for the whole company of €57.6 million.
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