29th May 2018 09:10
LONDON (Alliance News) - Australian business software firm Maestrano Group PLC said Tuesday that it will raise GBP6 million via a listing of its shares on London's junior AIM market.
The company, which provides a cloud-based business integration platform, said the stock listing will enhance the profile of the business and enable the company to strengthen its new product development capabilities.
Maestrano, which is based in Sydney, plans to issue new shares at 15 pence per share, giving it a market capitalisation of GBP12 million. The placing shares will represent 49.97% of the company's share capital. Based on the placing price, the company is expected to issue 80 million new shares.
Ian Buddery, founder of London-listed electronic payments firm eServGlobal Ltd, serves as chairman of Maestrano. Stephane Ibos, co-founder of Maestrano, serves as chief executive officer.
Maestrano's AIM stock market admission is expected to occur on May 30.
Related Shares:
eServGlobal