Last Updated on September 2, 2020 4:17 pm

An online mental health provider has raised £26m on London’s junior market amid a drought of new offerings on the UK stock exchange.

Kooth, which provides online and app-based mental health technology to the NHS for children, raised £16m in new shares on AIM, while its private equity backers sold £10m in their own shares.

London floats were all but absent in the first half of 2020. There were just 13 new listings on London’s markets, as of August, with just two new listings during the second quarter of the year, normally the market’s business patch.

Kooth’s new offering saw it price its shares at 200p per share. Shares jumped 16pc during the first trades. Panmure Gordon acted as nominated adviser and broker.

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