Member Article

Spurs valued at £353m after first share auction on Asset Match

Online share marketplace Asset Match’s first share auction for shares in Tottenham Hotspur football club has completed with a 136% jump in the club’s share price.

The auction, which is the platform’s first involving a Premier League football club, saw 20,000 shares traded in seven days and resulted in the club’s share price rising to 165p per share; putting market capitalisation at around £353m when the auction closed last Thursday.

Asset Match, who have carried out similar share auctions for the likes of Scottish brewer Brewdog and Co-Operative bank, gives shareholders in unquoted companies an opportunity to trade their shares through the firm’s online hub.

The company hopes to continue carrying out auctions in the club’s shares on a monthly-basis.

Stuart Lucas, Co-Chief Executive Officer of Asset Match, commented: “Tottenham Hotspur is just one of the thousands of private businesses in the UK that have shareholders who own shares but are unable to release their value. They literally have nowhere to turn.

“Stockbrokers typically won’t trade shares in unlisted companies and other facilities for private shareholders, such as the matched bargain service that Tottenham has in place, are not only complicated to use but they fail to show the price of any potential ‘trade’ or historic transactions.”

He added: “Our online auctions process is easy to use, open and transparent, and Regulated. This is our first auction for a football club and it was encouraging to see so much activity.

“Any business that has private shareholders can manage their investors much better, providing a clear and easy path to exit. Spurs offer a service that clearly doesn’t work for the thousands of minority shareholders of the club’s shares.”

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