Teathers Financial (LON:TEA) has made some amendments to its mobile app as it continues contract talks with a Financial Conduct Authority (FCA) regulated partner.
The app, which allows private investors to buy shares in initial public offerings and placings at the same price and deal terms as institutional investors, requires an FCA regulated structure the company said.
Once up and running, the app will create a revenue stream for Teathers and will support the company’s main investing activities under its investing policy.
So far this year, Teathers has transformed the business into an AIM investment company, and taken small stakes in a number of companies including Xtract Resources (LON:XTR) MYSQUAR (LON:MYSQ) and Kefi Minerals (LON:KEFI).