5th Jan 2023 18:59
(Alliance News) - Streaks Gaming PLC on Thursday reported that it started trading as a standard listing of the London Stock Exchange.
The London-based conversational gaming company said it has 378.2 million ordinary shares in issue with the admission.
It raised GBP3 million before expenses through the issue of a total of 100.0 million shares at a price of 3 pence per share, valuing Streaks at a market capitalisation of GBP11.3 million. The placing shares represent 26% of the company's issued share capital on admission.
Last Wednesday, London-based decentralised finance incubator AQRU PLC said it was investing GBP2.3 million in Streaks.
Streaks said that the purpose of the flotation is to raise the public profile of the company and provide new funds for its expansion and long-term growth.
"Streaks admission to the London Stock Exchange Main Market is a major step in the company's development and will put us in a strong position to execute our long-term growth strategy," Non-Executive Chair Mike Edwards says.
Its share closed 13% at 3.38 pence on Thursday in London.
By Abby Amoakuh, Alliance News reporter
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