21st Jun 2018 10:32
LONDON (Alliance News) - Shares in i-nexus Global PLC began trading on AIM Thursday with the stock rising 19% higher than its initial public offering price.
Shares in the cloud-based strategy execution software firm were trading at 93.90 pence each on Thursday morning compared to its IPO price of 79p.
It raised GBP10 million, placing 12.7 million new shares, and based on that price had a market capitalisation of around GBP23.4 million upon admission.
N+1 Singer Advisory LLP is the company's sole broker and nominated advisor, and shares are trading under the ticker 'INX'.
Chief Executive Simon Crowther said: "The high level of interest shown by investors in i-nexus is testament to the power of our software, our outstanding customer base, strong competitive position, high levels of recurring revenue and large addressable market."
"Our strategy now is to use the funds raised through the placing to capitalise on the growth of our sales pipeline and significant market opportunity in Hoshin-based strategy execution software."
Related Shares:
I-nexus Global.