London Stock Exchange welcome i-nexus Global plc to AIM
London Stock Exchange today welcomes i-nexus Global plc, a provider of cloud-based Strategy Execution software to Global 5000 companies, onto the AIM market.
i-nexus is a fast-growing Software as a Service (SaaS) business, benefiting from high recurring revenues and good visibility of earnings, attractive working capital dynamics with a significant addressable market, strong competitive positioning and distinct go-to-market assets that set it apart. The platform is already in use at 36 established global blue-chip businesses, predominantly based across the US and Europe, implementing over 125,000 live projects. The Group's software supports Hoshin Kanri, a strategy development methodology first introduced in the 1960s in Japan. This methodology is growing in awareness and is widely recognised across Global 5000 businesses.
The Placing, which was significantly oversubscribed with strong support from institutional investors, raised £10 million (before expenses) for the Company, at a placing price of 79p, giving the Company a market capitalisation of approximately £23.36 million on Admission. Nplus1 Singer Advisory LLP is acting as Nominated Advisor and sole Broker to the Company.
Simon Crowther, Chief Executive Officer of i-nexus Global plc, commented:
"Joining AIM marks an exciting landmark in the development of i-nexus. The funds raised will enable us to capitalise on the growth of our sales pipeline and take advantage of what we believe to be a significant market opportunity in Hoshin-based Strategy Execution software. With an outstanding customer base, strong competitive position, high levels of recurring revenue and large addressable market, we are excited about the future for the business.
"We would like to thank our existing shareholders for their ongoing support and welcome our new shareholders at this exciting time for the Company."