Glantus is delighted to announce its successful flotation and admission to the AIM market of London Stock Exchange today under the ticker "GLAN".
Glantus has successfully raised £10 million for the company through an oversubscribed placing of New Ordinary Shares with investors. On Admission, Glantus’ market capitalisation will be approximately £37 million.
We are delighted to announce our successful fundraise and admission to AIM. It is an important step in our development and provides an excellent platform for expansion. Based on growth forecasts for the Accounts Payable automation market and an acceleration of digital business initiatives, we are extremely well placed to capitalise on the investment by companies in finance automation and analytics. - Maurice Healy, Founder & CEO, Glantus
Through a combination of revenue growth and acquisitions Glantus has established a presence in the Accounts Payable market. It utilises a technology platform that layers onto existing data systems and transforms and analyses data to improve finance automation and deliver analytics to business users.
We’re delighted to welcome Glantus to AIM and congratulate the company and its advisory teams on its successful flotation. It takes considerable effort to build a business from scratch and it’s great to see a serial entrepreneur such as Maurice return to the market. We look forward to supporting Glantus’ growth on AIM. - Neil Shah, Senior Business Development Manager, London Stock Exchange
The net proceeds from the flotation will provide the company with equity finance to support its growth strategy by investing in account management, sales, and marketing, and will provide balance sheet strength for Glantus to consider further acquisitions.
With two principal operational divisions covering EMEA and the US, its solutions are offered to over 300 customers, more than 50 of which Glantus classifies as large enterprises including major brands and Fortune 500 companies. From 2019 to 2020 revenues increased over 150% to €8.5m.
On admission, Glantus has strengthened its Board of Directors with three non-executive appointments - Barry Townsley, CBE (founding partner and chairman of Hobart Capital Markets), Diane Gray-Smith (25 years of experience in finance leadership), and Tom Price (corporate financier for almost 30 years).
Arden Partners is acting as Broker and Nominated Adviser to the company on fundraising and Admission.