Softcat raises £350 million to help fund GDT acquisition
What's the deal? UK IT reseller Softcat plc has raised roughly £354 million in a post-IPO equity issue, pricing 18,742,590 new shares at 1,890 pence each. The placing was run by J.P. Morgan Cazenove, Peel HuntDealroom has a profile for this one. Try Dealroom →, and BNP Paribas, with proceeds earmarked to part-fund its acquisition of GDT Topco, L.P.Dealroom has a profile for this one. Try Dealroom →
How it broke down: The bulk went to institutional shareholders and other investors, alongside 211,640 shares sold to retail investors via RetailBookDealroom has a profile for this one. Try Dealroom →. The new shares equal about 9.5% of Softcat's existing share capital, and the price marked a 4.0% discount to the previous day's close.
Why now? The raise landed a day after Softcat announced the GDT deal, and the equity issue is designed to help finance it. Admission of the new shares to the London Stock ExchangeDealroom has a profile for this one. Try Dealroom → is expected on or around September 22, 2026, lifting total shares in issue to 215,642,562.
One wrinkle: Softcat's directors could not buy in. The company is in a closed period under the UK Market Abuse Regulation ahead of its preliminary results, so board members flagged only non-binding intentions to subscribe for 12,432 shares once permitted.
What management says: "We are very pleased with the strong support we've received for our equity issue in connection with the acquisition of GDT," said chief executive officer Graham Charlton, who welcomed new investors and thanked existing shareholders.
The signal: At around £354 million, this ranks among the largest post-IPO equity rounds in the UK security sector, sitting in roughly the 97th percentile of 74 comparable deals. It underlines how listed UK IT firms are turning to public markets to bankroll consolidation.
Read more: investegate.co.uk
Image credit: cbowns
