Aquis Exchange PLC is to float on AIM on 14 June after an Initial Public Offering (IPO) in which it intends to raise around £32.1mln.
The pan-European equity exchange operator and technology services provider said it would place around 4.46mln new shares as well as around 7.45mln existing shares at a placing price of around 269p, with an estimated market cap of around £73mln.
IPO funds to be invested in software and sales
The company added that it had already conditionally raised £12mln pursuant to the placing and that the proceeds of the IPO would be used to increase investment in its sales and marketing division as well as accelerate software licensing capabilities.
Alasdair Haynes, Aquis Exchange chief executive, said: "We are delighted to list Aquis Exchange on AIM. Aquis is disrupting the European trading landscape with a unique operating model underpinned by subscription-based pricing and a compelling offer to traders which combines good liquidity with market-leading low levels of toxicity.
He added: “There is a clear regulatory drive for greater transparency in trading and a requirement for market-users to show they are using the best possible venue. Aquis is ideally positioned to capitalise on these trends in the years to come.”