The Smarter Web Company began trading on the Aquis Stock Exchange on Friday after raising more than £1.1 million, taking investment in the business this year to £2.1 million.
Admission took place at 8.00 am under the ticker “SWC”, with an initial market capitalisation of £3.7 million at the issue price of 2.5p per share.
The stock is currently trading under the name Uranium Energy Exploration PLC, with a formal change to The Smarter Web Company PLC expected shortly following submission to Companies House.
The business, founded in 2009 by Andrew Webley, helps companies enhance their online presence and return on digital investment. Its core services include web design, development and digital marketing.
Before starting SWC, Webley was Head of Online at Hargreaves Lansdown, one of the UK’s leading financial services groups.
The company raised just over £1 million in its latest funding round, in addition to the £1.1 million secured in January. Webley personally invested £40,000 at the IPO issue price.
Following admission, the company’s focus will shift entirely to its operating business.
According to the admission document, the strategy centres on growing revenues through organic expansion of its existing services and a targeted acquisition plan to accelerate scale.
It also intends to adopt a Digital Asset Treasury Policy, including the use of Bitcoin.
Webley said: “I am very proud of the business that we have built over the last 15 years, and today sees a milestone met with admission to the Aquis Stock Exchange.