Dispersion Holdings PLC (AQSE:DEFI, OTC:DSPHF) has received a 21.73% shareholding in ChallengerX PLC (AQSE:CXS), a newly listed company on the AQSE market.
It follows Dispersion’s investment in SportsX SAS earlier this year.
SportX was a technology and services platform for amateur and semi-pro sports clubs, and, following a restructuring is now a subsidiary of ChallengerX – Dispersion exchanged 62.5mln SportX shares for 62.5mln shares in ChallengerX.
"We congratulate ChallengerX on its IPO and look forward to its continued development,” Dispersion chief executive Phil Blows said in a statement.
According to ChallengerX, its business employs both traditional and non-traditional marketing strategies to rapidly professionalise amateur and semi-professional sports clubs. Its technology platform helps its users to get paid in sponsorship for photos and videos posted to websites and/or to social media sites such as Facebook, Instagram, Tik Tok, Google, and LinkedIn.
ChallengerX plc closed an equity issue priced at 2p per share alongside its float on AQSE, valuing the company at some £5.75mln.
It also means that Dispersion’s stake is valued at £1.25mln, which represents a 478% gain from the prior £216,413 carrying value of the assets.