25th Feb 2019 11:45
LONDON (Alliance News) - AIQ Ltd on Monday posted an annual loss primarily due to costs associated with its float on the London Stock Exchange.
AIQ is a special purpose acquisition company incorporated in January 2018 for the purpose of buying companies or business in the e-commerce sector.
The company posted its results covering the period from October 11, 2017 and October 31, 2018.
AIQ reported a GBP654,276 pretax loss, "primarily based on IPO-related costs" and expenditure on the implementation of the company's investment strategy, it explained.
AIQ made no investments in the period to the end of October.
Chair Graham Duncan said: "I am pleased to present our first annual results following our listing in January 2018. We have been active in our search for acquisitions and continue to review a number of opportunities in the e-commerce, social media and artificial intelligence sectors, within the UK, Europe and Asia."
AIQ shares were untraded at 14.50 pence each on Monday.
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