London Stock Exchange welcomes Maestrano Group Plc
London Stock Exchange today welcomes Maestrano Group plc ("Maestrano"), a cloud software technology company to AIM.
Maestrano develops and deploys a patented Cloud based Platform as a Service that addresses the needs of Small to Medium Businesses (SMBs) and large Enterprises (such as major banks and global accounting firms) to access real time, automated management data efficiently on an integrated Platform. This technology is called Master Data Management (MDM).
Once implemented to an enterprise's branding and specification, Maestrano's platform allows SMEs to seamlessly move information between commonly used cloud-based applications, such as accounting and CRM software. The SME saves time, effort and gains efficiency, while the enterprise benefits from key data insights and customer retention.
The Company has raised £6 million in a fully subscribed placing, giving a market capitalisation of £12 million at the placing price.
The Directors believe that admission to AIM will enable the Company to execute its growth strategy, raise its profile and provide the ability to incentivise current and future employees. The funds will be used to further develop the Group's operations and to support existing and future contracts.
Grant Thornton is acting as Nominated Adviser to the Company and Arden Partners as broker.
Commenting on the admission to AIM, Stephane Ibos, CEO, said;
"We are delighted with the success of our AIM admission and associated capital raising, which now positions the company with the means to execute its business plan, service clients and accelerate growth. The AIM journey began when we participated in a UK Department of International Trade Fintech mission to London. We quickly recognised the outstanding support provided for emerging companies in the UK and the benefits of being listed on AIM, it has been a great experience and we look forward with excitement and confidence."