Aquis Exchange to have its first day of dealings on LSE’s AIM today
Dealings are set to start at 8.00 a.m. (London time) today under the ticker AQX.
European equities exchange operator and technology service provider Aquis Exchange PLC has announced that admission of its shares to trading on the AIM market of the London Stock Exchange will take place and dealings will commence at 8.00 a.m. today under the ticker AQX and the ISIN GB00BD5JNK30.
Earlier this week, Aquis Exchange PLC, announced its initial public offering by way of a conditional placing of 4,460,967 new and 7,456,014 existing ordinary shares of 10p each at 269 pence per Ordinary Share in an effort to raise gross proceeds of approximately £32.1 million.
Based on the Placing Price, the market capitalisation of the company on admission to trading on AIM will be approximately £73 million. Aquis Exchange has conditionally raised £12 million (before expenses) pursuant to the placing.
The company has explained that it will use the net proceeds of the placing:
- to increase investment in sales and marketing to grow the number of Members on Aquis Exchange and their activity levels;
- to accelerate the software licensing capabilities with enhanced delivery and support;
- to invest in new technology developments;
- to cover the costs of its admission to AIM and maintain the applicable governance standards; and
- for general working capital purposes.
On admission, the company will have 27,149,559 Ordinary Shares in issue and a free float of approximately 84%.
Alasdair Haynes, Chief Executive Officer of Aquis Exchange, said:
“We are delighted to list Aquis Exchange on AIM. Aquis is disrupting the European trading landscape with a unique operating model underpinned by subscription-based pricing and a compelling offer to traders which combines good liquidity with market-leading low levels of toxicity.
There is a clear regulatory drive for greater transparency in trading and a requirement for market-users to show they are using the best possible venue. Aquis is ideally positioned to capitalise on these trends in the years to come. We look forward with confidence and optimism as we begin life as a listed company.”