Peel Hunt Limited REX to relaunch as RetailBook (6552O)
02 February 2023 - 6:00PM
UK Regulatory
TIDMPEEL
RNS Number : 6552O
Peel Hunt Limited
02 February 2023
2 February 2023
Peel Hunt Limited
("Peel Hunt" or the "Company")
REX to relaunch as RetailBook
Collaboration with Hargreaves Lansdown, Jefferies, Numis and
Rothschild & Co
REX is Peel Hunt's retail access technology platform, which
enables retail investors to participate in capital markets
transactions such as IPOs and follow-on share offerings through
intermediaries and investment platforms.
In our half-year trading update on 3 October 2022, we reported
that we were actively engaged in establishing REX as a standalone
business independent of Peel Hunt. We believe that independence is
a prerequisite to REX asserting itself as the leading industry
platform.
We are pleased to announce that we have established a new legal
entity named RetailBook which, subject to receipt of its own
regulatory permissions, will own and operate a deal platform based
on REX technology. RetailBook will on launch have its own separate
headquarters and will be staffed independently of Peel Hunt.
In addition, we have entered into strategic agreements in
relation to REX/RetailBook, with Hargreaves Lansdown, the largest
savings and investing platform in the UK and with prominent
financial institutions Jefferies, Numis and Rothschild & Co.
Under the respective agreements, Hargreaves Lansdown has granted
REX a period of exclusivity until 30 June 2023, whereas Jefferies,
Numis and Rothschild & Co have agreed to collaborate with and
promote REX and/or RetailBook. In exchange, it is envisaged that
each of Hargreaves Lansdown, Jefferies, Numis and Rothschild &
Co will become shareholders in RetailBook.
REX has been gaining broader market adoption in recent months
having been mandated on nine completed capital markets transactions
since August 2022, and during the period has been involved in 50%
of all completed UK equity capital markets transactions with a
retail component. Since its establishment in 2015, REX has
generated over GBP450m of demand from retail investors.
We are focused on supporting the growth of REX, and in due
course RetailBook as an independent technology-led platform. The
launch of RetailBook, which is expected to take place during the
second half of 2023, comes at an opportune time to support the
Government's broader reformist agenda and drive for greater retail
investor inclusion in capital markets transactions.
For further information, please contact:
Peel Hunt via MHP
Steven Fine, CEO
Sunil Dhall, CFOO
MHP (Financial PR) +44 (0)20 3128 8540
Tim Rowntree peelhunt@mhpgroup.com
Charlie Barker
Robert Collett-Creedy
Grant Thornton UK LLP (Nominated
Adviser) +44 (0)20 7728 2942
Colin Aaronson
Sam Littler
Keefe, Bruyette & Woods (Corporate
Broker) +44 (0)20 7710 7600
Alistair McKay
Alberto Moreno Blasco
Fred Walsh
Dennis Towers
Notes to editors
About REX
REX ( www.rexretail.com ) is a technology led service connecting
banks and retail intermediaries allowing companies to access retail
investors through their broker's website or app. The collaboration
of market participants using this service is an important step
towards the more equitable inclusion of retail investors in UK
capital markets.
About Peel Hunt
Peel Hunt is a leading specialist in UK investment banking,
ranked number one broker for UK Small and Mid-cap companies in
Institutional Investor's 2022 Survey. Our purpose is to nurture and
guide people through the evolution of business. We achieve this
through a proven, joined-up approach that consistently delivers
value to UK corporates, global institutions and trading
counterparties alike.
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END
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