Remote calling SaaS company LoopUp Group is today announcing that admission of its ordinary shares to trading on the AIM market of the London Stock Exchange will take place at 8am today.
LoopUp joined the Future Fifty programme in December 2015 and is the first company on the programme to list on the AIM market.
Upon Admission, the Company will have a market capitalisation of approximately £40.8m, following a successful Placing with institutional and private investors of LoopUp Group ordinary shares, raising total gross proceeds of £8.5m at a Placing price of 100 pence.
Steve Flavell, Co-Chief Executive Officer of LoopUp Group, commented:
“The completion of the IPO process marks an important and exciting milestone on LoopUp’s journey as a UK-headquartered and internationally-minded technology company, and provides a significant catalyst for our continued growth.
The reception from investors has been positive and encouraging, and reinforces our belief that our differentiated product, business model and plans for the future provide the foundation needed to deliver on our potential as a public company.
Our focus will continue to be on delivering an exceptional product and service to our customers around the world, supported by the funds we’ve raised and emboldened by the faith our new shareholders have placed in us. These are exciting times.”
As well as recent Future Fifty events at Downing Street and the National Gallery, Tech City UK recently hosted a Summit at the London Stock Exchange, inviting Future Fifty and Upscale companies to come and learn from experienced panels and individuals on the current IPO/Exit climate. Check out the summary video:
A key goal of the Future Fifty programme is to ensure companies such as LoopUp which are growing rapidly and need support when considering key decisions such as this. Companies are also given direct link into government and are promoted to a global audience.
The total number of voting rights in the Company with effect from 24 August 2016 will be 40,784,176. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA’s Disclosure and Transparency Rules.