Martin & Co became the latest property agency firm to trade on the stock market when it made its debut on AIM yesterday.
Raising a gross £10.4m, shares in the company rose by 16% by noon yesterday, valuing the company at £22m.
Chief executive Ian Wilson said: “The group is excited to begin its next phase of growth as a public company. It is a strong endorsement of our business that it has attracted such high-quality institutional shareholders on its IPO.
“The group has a clear strategy and believes it is well placed to further consolidate its position as one of the UK’s largest residential letting agents and build out its estate agency services.”
Bournemouth-based Martin & Co is best known as a lettings franchise chain, but last year launched into the residential sales market.
It joins its rival Belvoir on AIM, and its stock market debut comes just days after Foxtons was promoted to the FTSE 250, having debuted in September.