Companies: AGL    ARDN    BBI    BSS    VOG    WGP   

Birmingham-based stockbroker Arden Partners (ARDN) debuted on AIM last week with a £40 million price tag, following a £2.2 million placing at 162p.

Last year to October, the group raised £82.4 million in flotations for clients, as well as £87.6 million through other fundraisings. Altium Capital acted as adviser and broker to the well-received float, which saw the shares move 6.5 per cent higher to 172.5p in early play. The shares now trade at 180.5p, valuing the company at £44.59 million.

Elsewhere, Victoria Oil & Gas (VOG), the AIM-quoted resources play focused on the Former Soviet Union, has reported progress on ‘Well 103’ at its West Medvezhye gas and condensate project in Russia.

Victoria Oil & Gas is targeting six potential gas and gas condensate bearing intervals and claims that in their most recent statement, independent auditors DeGolyer & MacNaughton estimate a gross resource of 144 million barrels of oil equivalent. Drilling has reached a depth of 3,000 metres and Victoria is now planning its 2007 development programme in the region. The shares surged 11 per cent higher to 88p on the news on Monday.

BBI Holdings (BBI), which floated on AIM in April 2004 and develops and manufactures diagnostic testing equipment, has announced strong preliminary results for the year to March. Pre-tax profits soared over 750 per cent north to £1.1 million on turnover up 37 per cent to £6.4 million, allowing for the declaration of a maiden dividend of 0.5p.

‘Significant acquisitions’ this year have strengthened BBI’s position in the market and diversified the group’s revenue streams – a strategy that looks set to continue. Changing hands for 107.5p, the shares value the business at £28.4 million.

Looking Forward

Online gambling group World Gaming (WGP) plans to unveil first half figures to June tomorrow at a time when the sector is under scrutiny following the recent shock arrest of BETonSPORTs (BSS) chief executive David Carruthers.

ANGLE (AGL), the venture management and consulting business specialising in commercialising technology, looks set to announce full year results to April this Thursday. Shares in the company, led by determined chief executive Andrew Newland, currently trade at a 52-week low of 76p, having been as high as 132.5p over the past year.

However recent news flow has encouraged, including an agreement signed with New York University to commercialise innovative technology developed at NYU’s Courant Institute of Mathematical Sciences.

Best of the Best, a company that gives travellers to UK airport lounges the opportunity to win luxury cars through on-site competitions, is about to try its luck on AIM. The company hopes to raise around £2.5 million in order to branch into further retail sites such as ferry terminals, railway stations and shopping centres. The float, scheduled for August, could see the company, which reported pre-tax profits of £591,000 in the year to April on £4.75 million sales, attract a £8.5 million price tag.