Citibase Holdings, a serviced office provider, has delayed its flotation on AIM until the middle of January.

The company had intended to list on AIM on 16 December.

Citibase wants to capitalise on new small business launches by redundancy casualties that will be looking for affordable space.

It is selling 625,000 shares at 80p each.

This will raise £500,000 to cover the flotation costs, which will value it at £5.5m.

It hopes the listing will allow it to sell shares and undertake an expansion programme that will mean it triples its centre locations from 14 to 42 in three years.

The company was founded in 1993 by Ian Read and David Joseph, and is run by CEO Steven Jude, who was formerly a director at Regus.