Dispersion Holdings, an investment company specialising in decentralised finance (DeFi) established by the co-founders of bitcoin mining company Argo, has launched its IPO on the London-based Aquis Stock Exchange Growth Market (AQSE).
Intending to place 200 million shares at 5p each, Dispersion aims to raise approximately £10 million before expenses in a float that will value the company at around £25 million with first dealings in the shares expected to commence later this month.
Michael Edwards is the co-founder of Argo which floated in London in 2018 at 16p a share. Its shares are now trading at 163p, boosted by the explosion in the bitcoin price over the last year.
“We are delighted and excited to be taking this bold step into DeFi with Dispersion Holdings’ listing on a public market. Our carefully considered sector, geographical and investment focus will enable us to create value for our shareholders in this exciting industry of the future,” said Edwards.
The announcement of Dispersion’s IPO comes just days after NFT Investments, of which Edwards is a director, raised £35m on the Aquis Exchange, more than three times its initial goal of £10m.
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Credit: Blockchain News