LONDON: Samarkand Group plc, the cross-border eCommerce technology and retail group, announced that admission of its ordinary shares of £0.01 to trading on the APEX segment of the Aquis Stock Exchange Growth Market (AQSE) commenced under the ticker SMK.
The significantly oversubscribed fundraising, which was scaled up from the original £10.0 million target to accommodate demand from institutional investors and Qualified Investors, raised £17.0 million (before expenses) at an issue price of 115 pence per share.
The net proceeds will principally be used by the Company to further develop the Nomad Platform’s functionality and services, expanding the Group’s business development activities and to make further strategic acquisitions.
On Admission, the Company will have 51,618,966 Ordinary Shares in issue.
VSA Capital Limited is acting as the Aquis Stock Exchange Corporate Adviser and Broker to the Company.