Galasys joins AIM
London Stock Exchange today hosted Galasys in a Welcome Ceremony, marking the admission of its shares to trading on the AIM market.
Galasys is an integrated and modular ticketing management solutions and services provider that supplies to Amusement Parks in China and South East Asia. Through its proprietary systems, the Group provides Amusement Park operators with the ability to manage and analyse tickets, visitors, merchandise sales and other Amusement Park operations including online and e-commerce functionalities.
The Company has raised £3.1 million before expenses through a placing of 13,874,582 new ordinary shares at a placing price of 22.5p per share. On admission, the Company has 66,571,038 ordinary shares in issue, giving a market capitalisation of approximately £15 million.
The Company will be using the proceeds of the IPO to fund ticketing in theme park services, expansion into new markets, development of new products and services and working capital. Galasys intends to strengthen its position in the Asian region by increasing its product offering to current customers, gaining new Amusement Park operators as customers, entering into new markets and deploying its cloud platform integrating Amusement Park ticketing management systems into online travel agencies..
Sean Seah, Galasys CEO said:
"I believe we are well placed to capitalise on our current leading market position in the key lifestyle segment of amusement and theme parks in Asia and I believe an IPO is the right strategy to support our continued development. We are looking forward to a successful future as an AIM listed company."