Streaks Gaming PLC on Thursday reported that it started trading as a standard listing of the London Stock Exchange.
The London-based conversational gaming company said it has 378.2 million ordinary shares in issue with the admission.
It raised £3 million before expenses through the issue of a total of 100.0 million shares at a price of 3 pence per share, valuing Streaks at a market capitalisation of £11.3 million. The placing shares represent 26% of the company’s issued share capital on admission.
Last Wednesday, London-based decentralised finance incubator AQRU PLC said it was investing £2.3 million in Streaks.
Streaks said that the purpose of the flotation is to raise the public profile of the company and provide new funds for its expansion and long-term growth.
‘Streaks admission to the London Stock Exchange Main Market is a major step in the company’s development and will put us in a strong position to execute our long-term growth strategy,’ Non-Executive Chair Mike Edwards says.
Its share closed 13% at 3.38 pence on Thursday in London.
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