4th Oct 2022 10:30
(Alliance News) - Milton Capital PLC made its London Stock Exchange debut on Tuesday, after sealing a GBP1.0 million fundraise.
The special purpose acquisition company, on the hunt for acquisitions in the technology space, listed on the Main Market on Tuesday.
It raised GBP1.0 million through the issue of 100,000 shares at GBP0.01 each.
Shares traded at 1.20 pence each in London on Tuesday morning.
"I see this shell as being a particularly exceptional opportunity because it has a transparent capital structure with no founders' shares, minimal listing expenses, and the exclusively success-based remuneration for directors. This sets it apart from the typical cash shell and preserves cash, making it a more valuable M&A target. We now look forward to delivering a deal which will create shareholders' value," said Milton Director Malcolm Burne on Friday, when the company first announced its plan to float.
By Eric Cunha; [email protected]
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