Glantus makes positive start to life on AIM

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Glantus Holdings PLC (LON:GLAN) has made a positive start to life as a listed company as the accounting software and analytics group began trading on London’s AIM market on Tuesday morning.


The company also said it had raised GBP10mln ahead of its listing through an oversubscribed placing of around 9.8mln new shares at a price of 102p each with institutional, venture capital and other investors participating.


Glantus also said it had raised an additional GBP4mln for existing shareholders through a placing of 3.9mln existing shares at the issue price.


The firm said the proceeds of the placings will support its growth strategy by allowing it to invest in account management, sales and marketing, as well as strengthening its balance sheet and allowing it to consider potential mergers and acquisitions.


“We are delighted to announce our successful fundraise and admission to AIM, it is an important step in our development and provides an excellent platform for expansion. Based on growth forecast for the Accounts Payable automation market and an acceleration of digital business initiatives, we are extremely well placed to capitalise on the investment by companies into finance automation and analytics,” Glantus chief executive Maurice Healy said in a statement.


The company was making decent progress in early deals, with the shares changing hands at 107.5p, a 5.4% premium to the placing price.

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