Pantheon Leisure has begun trading on the London Stock Exchange’s (LSE) Alternative Investment Market (AIM).

Chaired by former Manchester City Football Club chair David Bernstein, the company has been formed to acquire businesses in the leisure sector.

Elms does not own its own football centres, but instead enters into contracts with schools, leisure centres and local authorities to operate its football leagues.

It currently manages around 39 leagues at 12 different venues, all around the Greater London area.

“We believe that there is huge scope for expansion in sport and leisure and we will be examining a number of acquisition possibilities,” said Bernstein.

“As a public company we will be placed in a far stronger position to finance these deals as well as attract high quality executives and key employees.”

Pantheon placed 25 million shares at 3p and is valued at £3m.