3rd Jun 2025 09:32
(Alliance News) - Sundae Bar PLC on Tuesday began trading on London's junior market, saying this marked a new chapter in its development of a unified "marketplace for artificial intelligence agents".
The London-based company, formerly known as Kondor AI, raised GBP2.0 million gross through a placing of 25.0 million new shares at 8 pence each. The company has 411.7 million shares in issue, giving it a market value of GBP32.9 million at the offer price.
Shares in its first day of trading were quoted at a mid-price of 10.00p, up 25% from the offer price, though no trades were reported by the London Stock Exchange.
Sundae Bar acquired fellow AQSE-listed firm Ora Technology PLC prior to the move of trading venues. It said its new AIM listing will help accelerate the launch of its AI agent platform, the eponymous sundae_bar.
Sundae_bar is a marketplace platform designed to connect AI agent developers with businesses and end-users seeking intelligent automation solutions, a piece of infrastructure intended to accelerate AI commercialisation.
"Today's admission to AIM marks a major step in sundae_bar's growth journey," said Chief Executive Officer Jill Kenney. "Our platform has been designed to give developers the tools to scale and monetise their innovations while providing businesses and individuals with a trusted, streamlined way of accessing AI solutions."
Sundae Bar intends to generate revenue through subscription tiers, transaction fees, and advertising. Its focus will initially be on connecting AI agent developers with buyers, creating a network-driven growth model.
The AI agents market is forecast to expand significantly over the next few years, with Sundae Bar citing projections of growth from GBP5.1 billion in 2024 to USD47.1 billion by 2030.
By Eva Castanedo, Alliance News reporter
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