Cloud tech firm gears up for £12m float
A global cloud computing company with offices in five countries is set to float on the London Stock Exchange tomorrow.
Maestrano is a software firm behind a cloud-based platform as a service that allows both small to medium businesses and large enterprises to access real-time, automated management data efficiently.
The company was founded in Australia in 2013 and now operates from bases in New York, Singapore, London and Dubai.
Maestrano has announced it will list its shares on the AIM market on 30th May, with Grant Thornton acting as nominated adviser and Arden Partners as sole broker.
“I am delighted to announce the proposed Admission to AIM of Maestrano Group plc, which will aid the company as it moves into large scale roll out with key enterprise partners,” said CEO Stephane Ibos.
“In particular, admission to AIM will provide access to capital and profile appropriate for the long-term development of the business.”
Maestrano is set to raise £6m through the issue of new shares. At a placing price of 15 pence per share, the company’s market capitalisation at admission is expected to be £12m.
The group said the flotation will help enhance the profile of the business, allowing it to strengthen its new product development capabilities.
Ibos added: “Maestrano partners with some of the world’s leading professional, financial and technology businesses and we expect to use this platform to capitalise on a substantial opportunity.
“We look forward to becoming a publicly quoted company and we believe that the appetite for the investment case is strong and we look forward to welcoming new shareholders to the company.”