(Alliance News) - Essentially Group PLC said it raised GBP600,000 via an initial public offering as the company began trading on the AQSE Growth Market on Friday.
The UAE-based health food company said the fundraise priced 1.2 million shares at 50.00 pence per share, with the company realising a market capitalisation of GBP25.7 million with 51.3 million shares in issue on admission.
Shares in Essentially were unchanged, trading at 50.00p per share on Friday afternoon in London.
Chief Executive Officer Raja Wail Abuljebain said the company's listing on AQSE is a "significant milestone in Essentially's journey".
"Our philosophy is that quality nutrition should be easily accessible in our modern, demanding lifestyles so that individuals can create positive, long-lasting changes to their diet and overall health. We believe that our listing today on the AQSE Growth Market will allow us to reach more people and deliver on our mission to get this quality nutrition into as many hands as possible."
By Harvey Dorset, Alliance News reporter
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