11th May 2021 11:53
(Alliance News) - Shares in Glantus Holdings PLC began trading on AIM in London on Tuesday, after it had raised GBP14 million in an oversubscribed placing.
The provider of automation and analytics solutions said it issued 9.8 million shares in the initial public offering at a price of 102 pence each, raising GBP10 million. A further GBP4.0 million was raised for existing holders through a placing of 3.9 million existing shares at the same price.
The new shares represent 27% of the company's issued share capital. On admission, the market capitalisation of Glantus Holdings was GBP37.0 million.
"We are delighted to announce our successful fundraise and admission to AIM. It is an important step in our development and provides an excellent platform for expansion," said Chief Executive Maurice Healy.
"Based on growth forecast for the accounts payable automation market and an acceleration of digital business initiatives, we are extremely well placed to capitalise on the investment by companies into finance automation and analytics," added Healy.
By Evelina Grecenko; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
GLAN.L