Mountfield floats on AIM but nobody wants its shares

Mountfield's courage at floating on AIM yesterday, despite all the financial turmoil, has been rewarded with - not a single trade in the company’s shares.

Even this morning the clock ticked round to 10.00am and that situation was unchanged.

Mountfield’s shares are only being quoted by one market-maker, Winterflood, at a price of 12.5p.

This single figure is a mid-price which is the average of two figures: the buy price and sell price. The two are often 1p or 2p apart with penny shares such as this.

Mountfield floated at a price of 10p.

Mountfield has three integrated subsidiaries that deliver a range of construction and property services to the private sector. The principal businesses specialise in the design, installation and fitting out of commercial office buildings and data centres.

Graham Read, chief executive, said: "There is great value for us in joining the AIM market. This admission will enhance our commercial profile.  

“It provides us with a means to acquire complementary businesses and being quoted on AIM will provide a way in which to incentivise both existing and prospective subsidiary company managers.

“We are seeing an increased demand for secure data centres in the UK and elsewhere.”