Dispersion Holdings PLC (LON:DEFI) has made a positive start to life as a listed company after the decentralised finance (DeFi) investment firm began its first day of dealings on the Aquis Exchange.
The company, which was established by the co-founders of crypto mining firm Argo Blockchain PLC (LON:ARB), said it has been admitted to the Access segment of Aquis after raising £9mln through a placing and subscription at 3p per share.
Following admission, the company said it will have 612.5mln shares at issue, giving it a market cap of around £18mln.
Dispersion said the float will enable it to raise the public profile of DeFi technology as well as providing it with new funds to execute its investment strategy.
The firm said it has already made initial investments in fellow Aquis listee NFT Investments PLC (LON:NFT) as well as Toronto-based Epic Blockchain Technologies Inc.
"Dispersion Holdings' admission to the AQSE Growth Market marks a significant milestone in our journey and, indeed, for the DeFi sector in the world's leading financial centre. It is a vote of confidence in our investment plans and gives us a firm foundation on which to build our long-term growth strategy in a market that has bright days ahead. London has a golden opportunity to become the global capital for DeFi, and we look forward to demonstrating the value of this growing part of the FinTech sector", Dispersion chief executive Michael Edwards said in a statement.
In mid-morning trading on Friday, shares in the company were trading at around 3.6p, 20% higher than the fundraising price.