Sports-focused data company 4GLOBAL PLC (AIM:4GBL) had a fairly warm welcome as it started trading on AIM today, with the shares rising 4%.
The company, which focuses on major sporting events and the promotion and measurement of physical activity, said it raised £4mln via its initial public offering (IPO), at a price of 91p per share, with the shares rising to 95p by midday.
It also said that since announcing its IPO, it has won a £4mln contract with Sports England to provide access to its data platform.
Chief executive Eloy Mazon said, “The board is pleased with the current trading performance of the group which has been enhanced by the recent multi-million-pound contract with Sport England to license our technology platform.
“We are delighted to have achieved this key milestone for the company and to welcome our new and supportive shareholders alongside us in our growth journey.”
The company said it intends to use the money raised via its IPO to accelerate growth, including acquiring complementary product lines and further developing its technology platform.
Founded in 2002, the company has already participated and assisted in some of the world’s major sporting events, such as the Olympics, Rugby World Cup and UEFA European Championships.