Home Market Mind Gym prices float on AIM above range at £145m

Mind Gym prices float on AIM above range at £145m


Training firm Mind Gym will have a market cap of around £145m when it floats on London Stock Exchange sub-market AIM this Thursday, the company said today.

Liberum will work as the nominated adviser, bookrunner and broker to the deal, as 34,828,410 will go on the market at a price of 146p per share.

The placing of the sale shares will raise £50.8m before expenses for selling share holders.

Mind Gym boss Octavius Black, company chair and spouse Joanne Black and co-founder Sebastian Bailey will retain a substantial shareholding amounting to around 64.6 per cent of the company's share capital.

Read more: Mind Gym flexes muscles with £140m London listing

On admission, Mind Gym will have 99,362,375 ordinary shares and a free float of around 35.1 per cent.

It follows the firm strengthening its board with the appointment of ex Talk Talk boss Dido Harding and Sally Tilleray.

Mind Gym is a training consultancy that uses behavioural science to positively impact how employees go about their work.

It has worked with firms including Maersk, GSK and Unilever, running "workouts" with sessions including "managing for impact" and "giving actionable feedback."

Chief executive Octavius Black said:

Today behavioural science comes of age. When we started out 18 years ago at my kitchen table, it was readily dismissed; now, the way businesses use behavioural science determines their success.

Mind Gyms IPO will raise our profile and help us lead the development of psychological tools to make companies more diverse, ethical, agile, productive, innovative, healthy and profitable. We are delighted by the level of support we have received from such reputable investors.

Together with our team of ever-curious and deeply committed colleagues, we look forward to leading the thinking on thinking, and so transforming the performance of businesses and the lives of the millions of people who work in them


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