LONDON (Alliance News) - ADVFN PLC said Monday it has signed an agreement with crowdfunding aggregator Business Agent Ltd to provide it with a listing on its website and mobile applications.
ADVFN said it will create a link to Business Agent's website on its home page navigation, starting on its UK website and applications. It said Business Agent will initially spend GBP15,000 in advertising, but if Business Agent raises GBP2.0 million in funding, it has committed to spend another GBP60,000 in advertising. In consideration for this, ADVFN has been granted a 4.0% shareholding in Business Agent worth GBP120,000 at the current indicative equity valuation.
ADVFN said it is envisaged that, as crowdfunding becomes more established among ADVFN's overseas territories, it will extend the services to those territories as well.
Shares in ADVFN were untraded on Monday, having last traded at 27.00 pence.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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ADVFN (AFN)