2nd Sep 2020 10:45
(Alliance News) - UK-based digital mental health provider Kooth PLC started trading on London's AIM on Wednesday.
Kooth was trading at 244.50 pence on Wednesday mid-morning, compared to its IPO price of 200p.
The firm raised GBP16 million via the placing of 8.0 million new shares, and raised a further GBP10 million on existing shareholder Root Capital Fund II LP placing 5.0 million shares.
Kooth's market capitalisation at the placing price on admission was GBP66.1 million. The firm has 33.1 million shares in issue.
Chief Executive Tim Barker said: "This is a great moment for Kooth. In joining AIM we see a significant opportunity to scale up our company to support the growing demand for mental health services in both the UK and internationally. As a public company with a positive social impact, we are proud to become the first digital mental health platform to list on the London Stock Exchange. We have an ambitious plan to invest in our team and technology to deliver on our purpose to make personalised mental healthcare available to all."
Kooth is a digital mental health provider to the National Health Service for children and young people aged between 10 and 25 years old, offering a range of therapeutic tools and interventions.
By Paul McGowan; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Kooth Plc