Ikigai Ventures eyes Main Market float for ESG investing in Asia

(Alliance News) - Ikigai Ventures Ltd on Tuesday said it intends to float on the Main Market of ...

Alliance News 13 September, 2022 | 3:13PM
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(Alliance News) - Ikigai Ventures Ltd on Tuesday said it intends to float on the Main Market of the London Stock Exchange.

Ikigai Ventures was incorporated in 2021 to undertake the acquisition of one or more companies that have a strong positive social impact as part of their core business in Asia.

It said 4.2 million ordinary shares are being placed at a price of 50 pence each. The company estimates gross proceeds of GBP2.1 million. The expected market capitalisation of the company following admission will be GBP10.3 million.

Trading in the company's shares will begin on Thursday.

Ikigai, the directors note, means "having a direction or purpose in life". They believe this idea has "a growing significance in the 21st century corporate world".

"PwC is reported to predict that USD7.5 trillion will be invested into sustainable products by 2025 with USD1 trillion of those as ESG funds in Europe", the company continued.

No specific businesses have yet been identified for acquisitions, and it is expected any negotiations will only begin after admission.

Chief Executive Officer Nicholas Bryan-Brown said: "I am delighted to announce the plans to list Ikigai on the London Stock Exchange. The ESG sector is in a strong state of growth, not least in Asia, and we believe there are attractive long term acquisition opportunities in the sector. We plan to use Ikigai as a vehicle to acquire one or more exciting businesses in these areas in order to generate attractive returns for our shareholders."

By Chris Dorrell; chrisdorrell@alliancenews.com

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