Dianomi prices London IPO and plans to raise GBP37.0 million

(Alliance News) - Dianomi PLC is targeting a market value of GBP82.0 million when it begins ...

Alliance News 19 May, 2021 | 1:45PM
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(Alliance News) - Dianomi PLC is targeting a market value of GBP82.0 million when it begins trading on London's AIM junior market, the digital advertising services firm said on Wednesday.

Dianomi cites wealth managers and some of the largest US banks among its clients. It first unveiled plans for an AIM float earlier in May.

Its shares will fetch 273 pence in its initial public offering. Its plans to initially raise GBP5.0 million, before a secondary placing which will secure another GBP32.0 million.

Panmure Gordon UK Ltd is serving as nominated adviser, sole broker and sole bookrunner for the float, which is expected to occur on May 24.

Dianomi earlier in May said its adverts are "contextually relevant" to the page or platform they are on, thereby increasing user engagement.

Its clients include "7 of the world's top 10 largest asset management companies, 7 out of the top 10 of the largest wealth management firms in the US and half of the top 10 largest banks in the US," the company added.

The firm lauded its "strong track record" of growth, explaining that over the past five years, it has achieved a compound annual revenue growth rate of 47%. In financial 2020, revenue rose 59% to GBP28.4 million

By Eric Cunha; ericcunha@alliancenews.com

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