Cenkos Securities

Cenkos Securities (AIM: CNKS)

Currency in GBP

Last close As at 22/09/2023

GBP0.29

▲ 2.50 (9.43%)

Market capitalisation

GBP15m

Overview
Price performance
Financials
Research
Thematics

Cenkos is a leading UK securities business, which acts as nominated advisor, sponsor, broker and financial adviser to companies, focusing on UK small- and mid-cap companies and investment funds. Since inception in 2005 it has raised more than £22bn in equity capital for corporate clients, which stood at 107 at end December 2022.

On a pro forma basis the combined group will have more than 210 retained listed/quoted clients, over 230 employees and revenue of more than £50m. The capabilities of the two companies are complementary and when combined will encompass equity capital markets, M&A advisory, debt advisory and private growth capital fundraising. The boards see potential for significant cost synergies and believe greater scale should provide a stable platform for growth.

Latest Insights

Financials |
Update

15.03.23

Cenkos Securities — Gained market share in tough conditions

Financials |
Outlook

15.09.22

Cenkos Securities — Flexible model well suited to market conditions

Financials |
Update

30.03.22

Cenkos Securities — Uncertain background but resilient model

Financials |
Outlook

12.10.21

Cenkos Securities — Reinvigorated and looking to the long term

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Sector

Financials

Equity Analyst

Robert Murphy

Managing Director, Financials and Investment Trusts

Key Management

Ben Procter

FD
Julian Morse

CEO
Lisa Gordon

Chairman

Balance Sheet

Forecast net debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(20.6)	(3.3)	(52.5)
Relative	(19.1)	(1.1)	(53.2)
52 week high/low	61.0p/24.5p

Financials

On 23 March, Cenkos and finnCap announced a recommended all-share merger. Under the terms, Cenkos shareholders will receive 3.19420647 new finnCap shares for each Cenkos share, valuing each Cenkos share at 37.13p based on finnCap’s closing share price prior to the announcement (11.625p). Shareholders of each company will hold approximately 50% of the enlarged share capital of finnCap. Assuming approval of the application for new finnCap shares to be admitted to trading on AIM, dealings are expected to commence on 8 September. Cenkos shareholders will also be paid an interim dividend on 6 September. FCA approval has been granted. For the purposes of the Takeover Code, Edison is deemed to be connected with Cenkos as a provider of paid-for research.