Co-founder of Bitcoin mining company Argo Blockchain is all set to launch the Initial Public Offering (IPO) of the new crypto company, which will focus on decentralized finance. The company announcement intended to float on the Aquis Stock Exchange Growth Market. The announcement was made by the Chief Executive Mike Edwards told Financial News, in London on 19th April.
Argo Launches the Initial Public Offering
Edwards, the co-founder of Bitcoin miner Argo which floated in London in 2018 at 16p a share. The shares are now trading at 163p, boosted by the explosion in the bitcoin price over the last year.
The aim is to raise approximately £10m before expenses in a float that will value the company at approximately £25m. Aiming to place 200 million shares at 5p each through Novum Securities, the company’s corporate adviser, and joint broker alongside Tennyson Securities. The first dealings in the shares are expected to commence at the end of this month.
Based on the theory that resembles the Argo, Dispersion aims to give investors exposure to cryptocurrencies but without the technical barriers to entry.
Invests in Non-Fungible Tokens
According to a statement from Edward, “Dispersion would adopt a portfolio approach, investing in the infrastructure underpinning the sector such as blockchain Ethereum and crypto wallets, as well as investing in early-stage fintech companies in the space.”
“We hope to create a very large, diversified portfolio that is at the earliest stages of investing in this asset class,” he added.
Edwards, who also holds the position of director of NFT Investments, raised £35m to invest in non-fungible tokens which were listed on Aquis on 16 April. The Non-Fungible market is booming as the physical markets for collectibles such as art, music, film, and TV boost.
Further being on the position of the co-founder of Guild Esports, floated in London at 8p per share in October, with shares now trading at 6p.