DeFi enterprise Dispersion Holdings is planning to apple for admission of its shares to trading on the Access segment of Aquis Stock Exchange Growth Market (AQSE) in London.
According to Dispersion, the flotation is expected to value the business at approximately £25m. The company intends to raise around £10m before expenses through the placing of 200 million ordinary shares at 5p each through Novum Securities – Dispersion’s corporate adviser and joint broker – and Tennyson Securities. These share dealings are expected to begin later this month.
Dispersion is an investment company that specialises in decentralised finance (DeFi) and was established by the co-founders of cryptocurrency company Argo Blockchain. The firm was established to identify investment opportunities in the DeFi sector, a space that was estimated in August 2020 to have around $7bn invested in a range of its platforms.
DeFi uses blockchain and cryptocurrencies to cut out the financial mediators from transactions to create a more streamlined, cheaper and secure way of providing financial services. Many DeFi applications are built on top of Ethereum, which is the world’s second-largest cryptocurrency platform.
Through the flotation, Dispersion will look to pinpoint investment opportunities in the UK, US and Canadian FinTech sectors. It will also deploy the majority of its cash resources in the acquisition of minority interests in a number of currently unidentified firms in the FinTech space, providing expertise to said companies’ strategic plans and business operations.
In order to pick the right companies to invest in, the company claims it will use both its board members’ ‘extensive’ contacts in the DeFi space that have ‘best mitigated the risks associated with DeFi as well as a portfolio approach to the sector’.
Dispersion remarked its board of directors have an established track record and experience in the cryptocurrency, DeFi and digital assets management sectors. The board includes its CEO and founder of Argo Blockchain Michael Edwards and CEO of Carraway Capital Mark Rutledge. Rutledge holds over a decade of experience in the cryptoasset space and has 25 years of experience structuring and financing technology start-ups.
Edwards said, “We are delighted and excited to be taking this bold step into DeFi, the new frontier of the FinTech sector, with Dispersion Holdings’ listing on a public market.
“In a rapidly growing and ever-changing sector, our team of experts – from the worlds of cryptocurrency to entertainment – has a wealth of skills, experience and contacts to guide DeFi companies towards a bright future. Our carefully considered sector, geographical and investment focus will enable us to create value for our shareholders in this exciting industry of the future.”
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