Milton Capital PLC made its London Stock Exchange debut on Tuesday, after sealing a £1.0 million fundraise.
The special purpose acquisition company, on the hunt for acquisitions in the technology space, listed on the Main Market on Tuesday.
It raised £1.0 million through the issue of 100,000 shares at £0.01 each.
Shares traded at 1.20 pence each in London on Tuesday morning.
‘I see this shell as being a particularly exceptional opportunity because it has a transparent capital structure with no founders’ shares, minimal listing expenses, and the exclusively success-based remuneration for directors. This sets it apart from the typical cash shell and preserves cash, making it a more valuable M&A target. We now look forward to delivering a deal which will create shareholders’ value,’ said Milton Director Malcolm Burne on Friday, when the company first announced its plan to float.
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