NFT Investments PLC said it doubled the size of its initial public offering (IPO) to £20mln, a record target for a company listing on the Aquis Stock Exchange Growth Market.
The firm, which specialises in investments in non-fungible tokens (NFTs), said the increased target follows “strong investor interest” in its planned share placing and listing, which were originally announced last week.
The company, which is being launched by the co-founder of LSE-listed crypto miner Argo Blockchain PLC (LON:ARB), is aiming to issue 400mln new shares through a placing at a price of 5p each, which it expects will give it a market cap of £35mln at flotation.
The IPO will make the company the first listed investment firm focused exclusively on NFTs, which over the last few months have attracted a flurry of interest with some selling for millions of dollars at auction.
“We are very encouraged by the strong interest from a wide range of investors who clearly wish to gain early exposure to the fast-growing market for NFTs, which we believe offers a considerable long term growth opportunity, just as the cryptocurrency sector has so far. We are thrilled to be able to offer a broker option to democratize access to this hard-to-reach market”, the firm’s executive chairman Jonathan Bixby said in a statement.