Connecting Excellence Group PLC made its market debut on Thursday after raising £3.3 million in an oversubscribed initial public offering on the Aquis Growth Market.
The Leeds-based international executive recruitment firm with a bitcoin treasury policy said trading in its shares began under the ticker XCE.
Connecting Excellence placed and subscribed 133.3 million new shares at 2.1 pence each, raising £2.8 million from institutional and other investors.
A separate WRAP retail offer brought in £500,000. Both offers were ‘significantly oversubscribed’, the company said.
Based on the placing price, Connecting Excellence said it has a market capitalisation of about £8 million at admission.
Chief Executive Officer Scott Ellam said the float marks ‘an important stage’ in the group’s development.
‘XCE is a first mover at the intersection of international executive recruitment and corporate bitcoin adoption, and we believe we are well placed to deliver long-term value for our shareholders,’ he said.
Shares in Connecting Excellence were quoted at 2.65 pence each on the Aquis Stock Exchange in London on Wednesday.
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