London Stock Exchange welcomes Glantus to AIM
London Stock Exchange today welcomes Glantus to AIM under the ticker “GLAN”, after it raised gross proceeds of £10m for the Company and a further £4m for shareholders. The Placing Price was 102 pence per share resulting in a market capitalisation of £37m at Admission.
Glantus is a global provider of Accounts Payable (“AP”) automation and analytics solutions. It utilises a technology that layers onto existing data systems and transforms and analyses data to improve finance automation, and delivers analytics and data science to business users. The Company products focus on three areas: Active AP Discovery, Intelligent AP Automation and Advanced AP Analytics.
The Directors believe that the Company is uniquely positioned to capitalise on the significant investment that enterprises are now making in the automation of the AP function and believe that there are significant growth opportunities available.
The net proceeds from the Placing receivable by the Company will provide the Company with equity finance to support its growth strategy by investing in account management, sales and marketing, and will provide balance sheet strength for the Group to consider further M&A activity. Admission will also increase and strengthen the Company’s corporate profile.
Maurice Healy, Founder & CEO of Glantus, said:
“It is a significant milestone and in many ways it’s also the beginning of an even bigger journey for us. We have strong growth plans, both organically and, potentially, through acquisitions to take our product across the globe and we’re really pleased to become a public company on London Stock Exchange.”
Neil Shah, Senior Business Development Manager, London Stock Exchange, said:
“Glantus’ successful float underlines the London markets’ support for FinTech businesses to help them build and scale. Glantus represents the fourth high growth FinTech company to go public in London this year to date.
“London Stock Exchange is home to more international businesses than any other exchange. We’re delighted to see a Dublin-headquartered business join AIM, providing access to the deepest pool of capital in Europe, to support its international growth.