Amicorp FS (UK) PLC (LSE:AMIF) shares started trading on London's main market on Thursday after the fund services group raised US$6.47mln (£5.2mln) in its initial public offer.
The UK business, which is part of the Hong Kong-headquartered Amicorp Group, raised funds via a placing of 6,468,000 new shares at US$1 apiece, with 9,702,000 existing ordinary shares also sold by existing holders.
A price of US$1.50 per share was shown on the London Stock Exchange website on Thursday morning.
AMIF, which currently provides services to over 440 active funds for asset managers and family offices, had a debut market capitalisation a smidge under US$120mln, based on the placing price and 119,968,000 shares in issue.
Chief executive Kin Lai said: "The business has spent over 15 years establishing itself as the provider of a full suite of fund services across multiple jurisdictions and has built strong foundations for further growth. Our particular strength in emerging markets will help AMIF fulfil its growth ambitions, in conjunction with continued growth in the use of fund structures for investment purposes."
Previously, the firm said it plans to utilise the proceeds from the listing to improve its IT automation, expand its geographical footprint and bolster its service offerings.