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(Alliance News) - Supply@Me Capital PLC shares soared on Thursday after the company confirmed its successful debut of a Middle Eastern partnership.
The London-based inventory monetisation platform said its company TradeFlow Capital Management Ltd completed its first warehoused commodities monetisation transaction, which was introduced by Cargoes Finance by DP World.
Shares in Supply@Me were up 17% to 0.082 pence each in London on Thursday morning
TradeFlow and Cargoes first signed a partnership agreement back in February.
In the first transaction under the partnership, TradeFlow Funds monetised the inventory of a small to medium enterprise coffee company based in the UAE, via the Dubai Multi Commodity Centre electronic warrants platform.
Transactions completed under the partnership with DP World will boost the company's investment advisory revenue, as it expects a "significant number of transactions".
"It is a testament to the value TradeFlow continues to build as an important member of the Supply@ME stable and demonstrates the potential for future transactions under this exciting partnership with DP World," said Supply@Me Chief Executive Alessandro Zamboni.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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