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Online Merchandiser ATTRAQT To Float On AIM

Thu, 14th Aug 2014 10:58


LONDON (Alliance News) - Software-as-a-service company ATTRAQT Group PLC said Thursday that it will begin trading on AIM next Tuesday, and has raised GBP1.25 million ahead of admission through a private subscription at 50 pence per share.

Based on this price, the company will have a market capitalisation of around GBP10.3 million.

ATTRAQT provides an online merchandising platform called Freestyle Merchandising, and has customers including Boohoo.com PLC, Supergroup PLC, and BT Group PLC.

The company plans to use the proceeds of its private subscription to expand its US sales team, increase its marketing effort, extend the functionality of its platform and develop new products. It expects its float on AIM to raise its profile, helping it to attract and recruit key employees.

ATTRAQT's nominated adviser and broker is N+1 Singer.

"We now have a strong portfolio of clients and believe that by joining AIM, we will have an increased profile with future customers and better access to funds, allowing us to further develop the Company both domestically and internationally," said Chief Executive and co-founder of the company André Brown in a statement.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2014 Alliance News Limited. All Rights Reserved.

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