26th Sep 2024 14:51
GenIP PLC - London-based company that uses generative artificial intelligence to help client companies to better evaluate and commercialise technology discoveries and to recruit tech executive - GenIP, a spin-out from AIM-listed incubator Tekcapital PLC, sets the price for its initial public offering on AIM in London. GenIP says it will issue new shares at GBP0.39 each. With 17.5 million shares in issue, it will have a GBP6.8 million market capitalisation at this price. GenIP is hoping to raise GBP1.8 million as part of the IPO. Tekcapital currently holds an 83% stake, which will be reduced to 63% upon listing. This is expected on Wednesday next week. The IPO is being led by Beaumont Cornish Ltd as nominated adviser and Novum Securities Ltd as broker.
By Tom Waite, Alliance News editor
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