i-nexus Global PLC (LON:INX) has said it will float on AIM on June 21 as it announced a placing as part of its initial public offering (IPO).
The software company said the placing would include around 12.6mln new and existing shares at a placing price of 79p each, with an expected market cap of around £23.36mln.
The firm added that the placing, which was “significantly oversubscribed”, was expected to raise around £8.9mln which would be used to enhance its go-to-market strategy, scale the group's channel partner programme and the development of standardised, self-service "out of the box" aspects to its software solution.
Simon Crowther, i-nexus Global chief executive, said: “The funds raised will enable us to capitalise on the growth of our sales pipeline and take advantage of what we believe to be a significant market opportunity in Hoshin-based Strategy Execution software.”