1st Apr 2025 10:02
(Alliance News) - Quantum Base Holdings PLC on Tuesday said its expects to list on London's AIM market on Friday, as it looks to fund commercial expansion and product development.
The Lancaster, England-based quantum science company specialises in anti-counterfeiting technology and provides authenticity tags.
It expects to raise up to GBP4.8 million through its listing, anticipating a market capitalisation of up to GBP14.8 million.
Quantum Base expects to admit up to 64.1 million shares at an issue price of 23.1 pence, with both its capital raise and market capitalisation subject to the results of a retail offer of 4.3 million shares, to be reported on Thursday.
Earlier in March, Quantum Base reported its intention to IPO on London's junior market, citing plans to raise between GBP3 million and GBP5 million to fund product development and commercial expansion.
It said the funds raised will be used to accelerate the commercialisation of its patented Quantum Identities solution, which it noted is a "near unbreakable and non-replicable" quantum-secure authentication tag designed to combat counterfeiting.
The firm has appointed Strand Hanson Ltd as its nominated adviser, with Cavendish Capital Markets Ltd acting as broker.
Quantum Base was founded in 2013 as a spin-out from Lancaster University, based on research by Robert Young. The company has developed a new authentication method using quantum randomness at the atomic level, which it says makes its Q-ID tags impossible to replicate. The tags can be applied to a variety of products, including tax stamps, banknotes, pharmaceuticals, and luxury goods, and can be verified using a smartphone.
Chief Executive Officer Tom Taylor said: "For over a decade, we have been developing our patented Q-ID solution - a quantum-secure tag that is virtually impossible to replicate or clone.
"As the first innovation of its kind to be easily integrated with the most common printing methods and quickly authenticated with a smartphone, it has been vital for us to maintain independence and credibility so that we can grow our solution in a sustainable manner.
"We believe that floating on AIM will provide us with this independence, whilst also enabling us to leverage access to a world-leading market and potential investor base."
By Christopher Ward, Alliance News reporter
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