London Stock Exchange welcome Quartix to AIM

London Stock Exchange welcome Quartix to AIM

London Stock Exchange is pleased to welcome Quartix Holdings plc to the AIM market today, 6th November 2014. Quartix Holdings plc is one of the UK’s leading suppliers of subscription-based vehicle tracking systems, software and services.

The company commenced dealings on AIM under the ticker QTX.L at 8am this morning, following a successful fundraising, in which it raised gross proceeds of £11.4m at a placing price of 116p per share. Based on this price, the total market capitalisation upon admission was £54.1m.

Andy Walters, Managing Director and Co-Founder of Quartix, commented:

“Admission to AIM is an exciting milestone for Quartix and will provide us with an enhanced platform from which to build on the momentum we have achieved over the past few years. We are delighted with the positive response from institutional investors to the Placing and welcome them as new shareholders as we embark on the next stage of Quartix’s development. 

“We plan to take advantage of the anticipated growth in both the commercial fleet and telematics based insurance markets. In particular, we look forward to delivering on our strategy to extend our technology, low cost sales and subscription model to grow our presence in the UK, France and the US and create further value for all our shareholders.”

FinnCap is acting as nominated advisor and broker in respect of the placing, with MHP Communications advising on media relations and financial PR.