Pathos Communications anticipates GBP20 million market cap in IPO

(Alliance News) - Pathos Communications PLC on Wednesday said it expects a market capitalisation of GBP20.0 million on admission to London's AIM, as it confirmed the expected admission date is on Tuesday next week.

The public relations agency anticipates a market cap of GBP20.0 million, with 66.7 million shares to be admitted at 30 pence per share.

It plans to raise GBP5.0 million through the placing of new shares and about GBP600,000 through the placing of existing ordinary shares.

Pathos was founded in 2019 by Omar Hamdi. It set up an operational hub in the United Arab Emirates in 2021, re-domiciling to Dubai's special economic zone in 2024, though it still has a London office.

The agency's main clients are small to medium-sized businesses, for which it aims "to democratise access to premium media outlets".

Pathos positions itself as "technology-enabled", noting its use of AI "to generate ideas, undertake market research and create news articles with limited human input required to generate highly efficient outputs.

With 20 IPOs recorded on London's AIM and AQSE markets this year so far, Pathos' initial public offering comes amid a relatively quiet year for new listings in London.

Strand Hanson Ltd is acting as nominated advisor for the IPO, while Cavendish Capital Markets Ltd serves as broker.

By Roya Shahidi, Alliance News reporter

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