London Stock Exchange welcomes Gloo Networks PLC to AIM
11 August - London Stock Exchange today welcomes Gloo Networks plc, a technology company established to acquire and operate companies in the media sector, to AIM.
With consumer media consumption at an all time high, Gloo intends to acquire and operated trusted brands with an enterprise value in the range of £250 million to £1 billion before accelerating their digital strategies to unlock full potential through the use of data and technology.
The Company, led by digital transformation experts Rebecca Miskin and Juan Lopez-Valcarcel, has received strong backing from major institutional investors with significant additional capital expected to be raised at the time of the target acquisition.
The market capitalisation of Gloo on Admission is £30.7 million based on the placing price of £1.20 and 25,600,000 ordinary shares in issue. The capital raised is to provide due diligence and working capital prior to one or more subsequent acquisitions. Dealings in the Company's ordinary shares will trade under the ticker GLOO.
Rebecca Miskin, Chief Executive Officer said: “We are delighted with the support that we have received from a wide range of blue-chip institutional investors and extremely excited by the opportunities ahead. London is home to some of the world’s best talent and is fast becoming the global capital for fin-tech and fashion tech. We believe media-tech should be there too and look forward to playing our part in this progression.”