Coding bootcamp听Northcoders听has launched a 拢12.5 million IPO听in London.听
Headquartered in Manchester, the firm is an independent provider of training programmes for software coding in the听North West听city and Leeds in West Yorkshire, alongside digital听lessons via its online platform.听
It offers a range of training and software development solutions to individual and corporate customers, including听鈥榖ootcamp鈥� training courses, government-funded apprenticeships, bespoke training courses and software development solutions.听听
With a market cap of 拢12.5m听at admission to the听AIM segment of the London Stock Exchange, the fundraising will raise a total of 拢3.5m听before expenses.听听
The听directors听of the company said they听believe the float听will听facilitate its stated growth strategy, particularly enabling it to roll out its model geographically with an additional hub in Birmingham and the opening of two other regional hubs in 2022.听
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Chris Hill, Chief Executive Officer of听Northcoders, commented: 鈥淲e are delighted with the support that听Northcoders听has received for the Group鈥檚 IPO on the AIM market of the London Stock Exchange and would like to welcome our new shareholders as they join our growth journey.听听Thanks听must also go to听all of听our team who have played a pivotal role in our success to date.听
鈥淭here鈥檚 no doubt that听Northcoders听is in an exciting period, particularly as we move away from the pandemic with the demand for digital training having never been stronger in the UK.听听听
鈥淭he government has clearly signalled its support for improving access to all forms of education, especially through apprenticeships like ours, and our differentiated business offering is proving attractive to individuals and corporate clients alike.听
鈥淎s we continue our strategy to expand across our homeland in the North of England, and indeed look at broader opportunities across the UK, the Board and I are confident in our ability to deliver significant shareholder value.鈥�听
Northcoders听derives its business from both private individuals and corporate clients and its courses are delivered through a combination of classroom and online teaching.听 The courses are typically paid for in advance by private individuals.听听听
Alternatively, they are paid for over the duration of the course via government-funded apprenticeships or on agreed terms with student finance providers or with corporate customers.听听听
The听group became a direct apprenticeship provider in December 2020, and enrolled students on its first direct apprenticeships in January 2021.听 This has听opened up听a significant opportunity to grow revenues in an area which is already receiving and is expected to continue to receive substantial government support.听
Northcoders听courses cover a comprehensive range of coding languages including Node.js, SQL and DOM.听 Courses are typically oversubscribed and there are stringent entry requirements.听
More than听250 companies have hired a听Northcoder听graduate.听Approximately 95%听of students have to date found employment within 44 days of completing a听Northcoders听training course.听