Shares digital

Shares rating:

Panceltica 1 (low)-5 (high)

Management: 3

Market: 3

Product: 3

Financial strength: 3

TOTAL SCORE 12/20

While new issues surrounding the property market remain pretty thin on the ground, one company is keen to get itself known on the junior market – Middle East-based Panceltica.

Although most of its operations have so far been carried out in Qatar, Panceltica also has subsidiaries in Turkey, New Zealand, Jersey and the UK, as well as subsidiary interests in the UAE.

Panceltica manufactures and erects lightweight steel-framed buildings for permanent and temporary accommodation, industrial, retail and commercial office units. Its selection of products can be produced in its factory and delivered on a just-in-time basis or made on site. This range of choice greatly benefits clients because it can save time, money and waste.

The group hopes to float on Aim in late March or early April when it will issue 236.3 million shares of no par value at 100p a share. No capital will be raised upon admission, so the group is expected to have a market value of £236.3 million when it joins the market.

The group believes it is ‘the leader of modern methods of construction (MMC) combining on and off-site manufacture of components in Qatar’. Thanks to this system, the company believes it can construct buildings in half the time of those using traditional methods.

Panceltica is hoping to become the leading supplier of fast-track steel structures in the Middle East. The group’s nominated adviser is Blomfield Corporate Finance, while its broker is Hitchens, Harrison.