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Adsure Services IPO set to accelerate growth and enable strategic acquisitions

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Adsure Services is the holding company for TIAA Ltd, a wholly owned subsidiary that provides a suite of business assurance and advisory services across a variety of public and not for profit sectors including Housing, Healthcare, Education and Charities.

The core of the business, at circa. 70% of annual revenue, is derived from internal audit and other assurance services delivered to public service organisations.

The complementary advisory services range from anti-crime, security management, digital assurance and information governance with assurance services including internal audit, scrutiny and compliance-related services.

Full Year revenue to March 2023 was approximately £9.0m and profitable with a strong balance sheet, as of March 2023, with Net Assets of £1.4m and cash at bank of £1.8m.

The Company aims to publish its Half yearly accounts by end of December this year and expects to continue to pay a dividend.

Adsure Services started trading on Aquis this week under the ticker ADS with a market capitalisation of £4.75m. Kevin Limn, CEO of Adsure, hopes the IPO will raise the profile of the business to grow market share and enable strategic acquisitions into adjacent markets.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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