In a stock market statement the group, which formed in February this year, said it had set the offer price at 183p per ordinary share. A total of 22.7m shares, representing 27.6% of the company, has been listed.
It expects to raise gross proceeds of £41.5m, with the company receiving £15m from the issue of new ordinary shares. An additional £26.5m from the sale will go to selling shareholders, which includes Punter Southall Group and Pacific Investments Management.
"Listing our company represents a major step forward and provides us with an ability to continue to invest in our advisory and asset management capabilities in both the UK and abroad,” chief executive Mike Faulkner said.
"We are pleased with the level of investor interest in the Group and extend our thanks to all who participated in the process.”
In February, River and Mercantile Asset Management and P-Solve Limited announced a merger enabling R&M to extend its asset management capability beyond just equities.
