Electra Private Equity said on Thursday it would soon begin the process of moving from Britain's main stock market to the junior AIM market as part of a plan to rebrand itself as digital lifestyle platform Unbound Group. At the end of September, Electra said its net asset value was 526 pence a share, of which 107 pence a share was notionally attributable to the impending Unbound side of the business. Hostmore, which began trading as a separate entity on the London Stock Exchange at the start of November, owns the Fridays U.S.-themed restaurant chain.
The hospitality group floated at 8am on Tuesday.
The restaurant chain will be traded on the London Stock Exchange.