8th Jun 2023 11:59
(Alliance News) - Amicorp FS (UK) PLC started trading on the London Main Market on Thursday, having raised USD16.2 million for the company and existing shareholders in its initial public offering.
Amicorp FS (UK) is a financial services division of Hong Kong-based Amicorp Ltd that provides services to "start-up" asset managers.
Amicorp FS (UK) raised USD6.5 million for the company from the placing of 6.5 million shares at USD1.0 per share and a further USD9.7 million from a placing of existing shares.
At the IPO price, Amicorp FS (UK) has a market capitalisation of USD120.0 million. A mid price of USD1.50 per share was quoted on the LSE on Thursday at midday, but no trades were recorded.
Amicorp FS (UK) said its clients are mostly comprised of "start-up'" asset managers with initial assets under management of between USD10 million to USD20 million.
Chief Executive Officer Kin Lai said: "We are delighted that AMIF is now listed and trading on the London Stock Exchange. The business has spent over 15 years establishing itself as the provider of a full suite of fund services across multiple jurisdictions and has built strong foundations for further growth."
By Xindi Wei, Alliance News reporter
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