LONDON, UK: Ashington Innovation plc, a special purpose acquisition company (“SPAC”) aiming to benefit from favourable price conditions for companies in the financial services technology (fintech) and deep technology (deep tech) sectors, has announced the results of its initial public offering and standard listing on the Main Market of the London Stock Exchange (“the Offering”).
Ashington Innovation has raised gross proceeds of £809,437, consisting of 26,981,233 Ordinary Shares at a price of £0.03 per Ordinary Share. The company will have 61,397,900 Ordinary Shares in issue, valuing Ashington at a market capitalisation of approximately £1.84 million.
Trading in the company’s Ordinary Shares is expected to commence at 8.00 a.m. on 6 June 2023 under ticker symbol “ASHI”, subject to admission.
The Offering will enable the company to pursue its objective of acquiring a target company or business in the technology sector, with particular focus on the fintech and deep tech sectors. The company’s efforts in identifying a prospective target business will not be limited to a particular industry or geographic region.
SI Capital Limited is acting as the broker to the company as from admission.
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