NFT Investments IPO target doubled to £20m amid strong demand
NFT Investments, an investment company specialising in non-fungible tokens (NFTs), has announced that it has doubled the size of its initial public offering (IPO) on the Aquis Stock Exchange Growth Market (Access segment) to £20m before expenses, a record amount to be raised on AQSE.
The increased fund-raising move is in response to strong investor interest in the Company’s planned share placing and application to join AQSE later this month.
NFT Investments is being launched on AQSE by the co-founders of Argo Blockchain, a crypto miner valued at more than $1bn, to invest in NFTs. Due to the strong demand, the Company now plans to issue 400 million new ordinary shares at 5p each to investors, twice the size of its initial goal. The placing is expected to value the Company at £35m on flotation.
NFT Investments is the world’s first pure-play investment company focused exclusively on investing in NFTs to launch on a stock market in a major jurisdiction worldwide.
The Company is being advised by First Sentinel Corporate Finance and its joint brokers are Novum Securities and Tennyson Securities. First dealings in the shares are expected to commence later this month.
Jonathan Bixby, Executive Chairman of NFT Investments, said: “We are very encouraged by the strong interest from a wide range of investors who clearly wish to gain early exposure to the fast-growing market for NFTs, which we believe offers a considerable long term growth opportunity, just as the cryptocurrency sector has so far. We are thrilled to be able to offer a broker option to democratize access to this hard-to-reach market.”