7th Dec 2021 15:47
(Alliance News) - Windward Ltd continued its strong start to trading in London, its shares rising 15% to be among the top 10 gainers on AIM on Tuesday.
The Tel Aviv-based company provides artificial intelligence software for the maritime industry.
It started trading on AIM on Monday, having raised GBP26.3 million for the company and GBP8.2 million for selling shareholders in its initial public offering, which was led by Canaccord Genuity as nominated adviser and broker.
At the offer price of 155 pence per share, Windward had a GBP126.5 million opening market capitalisation.
The stock was closed up nearly 10% on Monday at 170p and was trading at 195.00p on Tuesday afternoon, for a 26% total rise from its IPO price.
Windward's software provides real-time information on vessels at sea, allowing owners and other industry participants to manage risk.
"The global maritime industry is facing pressure from multiple directions - increasing compliance requirements, increasing freight shipping costs, lack of data visibility and all against a pressing need to steer towards a carbon neutral future," Co-Founder & Chief Executive Officer Ami Daniel said on Monday.
By Tom Waite; [email protected]
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