(Alliance News) - NFT Investments PLC on Thursday announced plans for an initial public offering on the Access segment of the Aquis Stock Exchange Growth Market in London, hoping to raise GBP10 million to put toward investments in non-fungible tokens.
NFTs are crypto assets that enable collectors to authenticate, own and trade original, authenticated versions of unique digital goods using blockchain technology. It noted that trade in NFTs has amounted to USD500 million so far, with USD240 million of this coming in March alone.
NFT Investment was established by the co-founders of London Main Market-listed Argo Blockchain PLC, Jonathan Bixby and Mike Edwards.
NFT Investments plans to place 200 million shares at 5 pence each to raise GBP10 million in the IPO, giving the company a GBP25 million market capitalisation. The IPO will be conducted by First Sentinel Corporate Finance as corporate adviser and by Novum Securities and Tennyson Securities as joint brokers.
To allow retail participation on the IPO, Novum has been granted a broker option of up to an additional 60.0 million shares.
First dealings are expected later this month.
By Tom Waite; thomaslwaite@alliancenews.com
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Argo Blockchai. (ARB)