Posted on November 21, 2019 by staff

PrimaryBid signs agreement with London Stock Exchange


Online investment platform PrimaryBid has signed a strategic commercial venture with London Stock Exchange.

The agreement combines London Stock Exchange’s market infrastructure with PrimaryBid’s digital distribution engine.

The venture will see the two firms roll out the digital infrastructure that enables companies listed or listing on London Stock Exchange to include retail investors in share offerings on the same terms as institutional investors.

PrimaryBid will enable retail investors real-time access to share deals active on London Stock Exchange, including IPOs, follow-on equity capital increases and secondary block sales, and retail bonds.

PrimaryBid will be accessible via London Stock Exchange’s Issuer Services Marketplace.

Working in collaboration with market intermediaries, the solution is designed to enable investment banks and stockbrokers to service their clients better, create broader revenue channels and help foster a more efficient capital markets framework.

Charlie Walker, head of equity primary markets at London Stock Exchange said: “This agreement is part of our ongoing commitment to broaden the services available to retail investors. Individual investors and issuers will benefit from the additional capital and liquidity available through PrimaryBid’s platform, helping to make markets more accessible for all.”

Anand Sambasivan, CEO of PrimaryBid, added: “Issuers on the LSE can now access a broader pool of investors to augment capital formation and long-term trading liquidity.

“This is applicable to companies listed on AIM all the way to the FTSE 100. Having this gateway available during transactions unlocks historical inefficiencies and brings tangible benefits to the ecosystem as a whole.”

PrimaryBid recently closed a £7 million funding round to fuel its global expansion plans, led by Pentech and Outward VC with participation from new and existing investors.