London Stock Exchange welcomes Boku Inc to AIM
Boku Inc, the world's leading independent direct carrier billing company, was this morning welcomed to London Stock Exchange (LSE) to celebrate its successful admission to AIM.
Boku, incorporated in 2008, is the leading independent direct carrier billing company in the world. Boku’s technology enables mobile phone users, of which there are more than five billion worldwide, to buy goods and services and charge them to their phone bill or pre-paid balance. The business has grown rapidly since 2008, including through the acquisition of two UK based businesses and it now employs 148 staff and is active in 49 countries. Boku's platform connects its customers, including Apple, Google, Facebook, Microsoft, Spotify and Sony, with the billing, identity and sales systems of mobile network operators. The Group's technology makes a consumer's mobile phone number a convenient and secure payment method, providing an alternative to credit and debit cards. By using Boku, merchants take people with mobile phones and make them paying users.
The Company has successfully raised £45 million through an institutional placing of new and existing shares by Peel Hunt. The gross proceeds of £15 million raised for the Company will be used to strengthen its new product development capabilities and optimise its working capital position for the long-term benefit of the business and its customers. Upon Admission, the Company had a market capitalisation of £125 million at the placing price of 59 pence and the shares trade under the symbol BOKU.
Jon Prideaux, CEO of Boku, commented: "Today is the start of an exciting new phase of Boku’s journey. We are delighted to be joining the London Stock Exchange and believe it will position the Company well for the next phase of its development.
"Admission to AIM will provide an appropriate structure for the long-term development of the business and enable us to invest in our new product development capabilities to the benefit of our customers.
"I would like to take this opportunity to welcome our new shareholders to the Company. We look forward to life as a public company and the further growth of our business in existing and new markets.”