20th Jun 2018 09:04
LONDON (Alliance News) - Anexo Group PLC and Tekmar Group PLC both began trading on London's AIM market on Wednesday following successful initial public offerings, while i-nexus Global PLC will join the market on Thursday.
Credit hire and legal services provider Anexo started trading on AIM Wednesday under the ticker "ANX". The company has a market capitalisation of GBP110.0 million following a GBP25.0 million placing, of which GBP10.0 million was raised for the company and GBP15.0 million for selling shareholders.
Arden Partners PLC is acting as nominated adviser and broker to the company in relation to the admission. The company's total number of shares in issue is 110 million. Anexo shares were trading at 105.50 pence each Wednesday, compared to its initial public offering price of 100p.
Tekmar, a provider of protection systems for subsea cables, started trading on AIM today under the code "TGP".
Upon admission, the company will have a market capitalisation of approximately GBP65 million, following a total fundraising of GBP61.8 million.
The funds raised will be used mainly to satisfy the cash consideration for the acquisition of Tekmar Ltd, to repay debt, and provide GBP10 million for future projects and acquisitions, the company said. Tekmar shares were at 155.0p each Wednesday morning, compared to its IPO price of 130p.
Cloud-based strategy execution software provider i-nexus Global placed 12.7 million shares at 79 pence each, raising GBP10 million, ahead of admission on AIM Thursday.
N+1 Singer Advisory LLP is acting as nominated advisor and sole broker to the company, which will start trading under the code "INX". Based on the placing price, the company's market capitalisation will be approximately GBP23.4 million.
Related Shares:
AnexoTekmar Group