Crossword Cybersecurity PLC (NEX:CCS) on Friday said its shares had been admitted to trading on London’s junior AIM market after following their cancellation from the NEX market.
On admission, the company said it would have a market value of around £13.6mln, following a successful placing and subscription of around £2.0mln, before expenses.
Shares in Crossword were 3.9% down at 295p in early trade.
The cybersecurity and technology firm said the proceeds would be principally be used to further develop the group's operations and to support existing and future contracts.
The total number of Crossword shares in issue will be 4.7mln, the firm added.
"I am delighted that Crossword has reached this important milestone and I would like to thank Crossword's existing and new shareholders for their continued support as the company continues to grow. AIM is an excellent platform for Crossword to achieve its ambitious growth plans over the coming years,” Crossword CEO Tom Ilube said in a statement.