National Accident Helpline and Card Factory to float
Claims firm National Accident Helpline (NAHL) and greetings card retailer Card Factory have become the latest firms to announce plans to list their shares on the London stock market.
NAHL, which specialises in no-win, no-fee injury claims, says the flotation will help to raise funds for expansion. It is expected to raise about £90m through the float. Card Factory, which started business in 1997 and now has more than 700 stores, is also looking to raise about £90m. The firm said it sold over 285 million single cards last year. The two will join a string of companies who have already listed this year, including discount retailer Poundland, the newsagent McColl's, and the pet shop chain, Pets at Home Compensation NAHL says the personal injury claims market is worth £3bn in the UK. The business was established in 1993, and works by connecting claimants, who have been injured in accidents, with specialist law firms. It says research suggests that claimants in the UK personal injury litigation market often have limited knowledge of how to seek legal redress and are not comfortable contacting lawyers directly. The business generates more than 200,000 consumer inquiries a year, which are passed on to the law firms on its panel. Last year, it generated revenues of £39.7m and reported an operating profit of £9.8m.