Kane ready to float his SHIP on London AIM

SHARED Home Investment Plan (SHIP), the equity release company run by Billy Kane, is to float on London’s Alternative Investment Market.

SHIP has agreed to a reverse takeover by the AIM-listed Ardent Group, which will value the combined company at nearly €25 million.

Mr Kane, SHIP’s founder and largest shareholder, will not be cashing in his stake on the floatation. A former chief executive of Irish Permanent, he will be chief executive and chairman of the new company, to be renamed Seniors Finance.