Accuma Group, a British company that helps people with personal debt and advises how to avoid bankruptcy, plans to list its shares in London next month. Accuma said it was looking to raise 2.5 million pounds ($4.7 million) in the initial public offering on London's junior AIM market, which is likely to value the business at about 15 million pounds. "The group's principal aim is to help individuals regain control of their financial affairs by advising them on the most appropriate course of action," a company statement said.

Chief Executive Charles Howson said Accuma would use the money raised from the placing to increase marketing and advertising.

Brokerage Daniel Stewart is acting as nominated adviser and broker to Accuma.

Last week rival debt adviser Debt Free Direct sold shares worth about 8.5 million pounds to boost its working capital and provide funds for acquisitions.

Copyright Reuters, 2005