Pelatro Plc (LON:PTRO), the precision marketing software specialist, has announced its intention to seek admission of its Ordinary Shares (“Shares”) to trading on the AIM Market of the London Stock Exchange (“Admission”). finnCap is acting as Nominated Adviser and Sole Broker to the Company in relation to Admission.
· Pelatro’s technology is used by customers in B2C applications, with a current focus on providing multi channel campaign management software to telecommunications companies (“Telcos”).
· Pelatro’s precision marketing solution, mViva, uses Big Data analytics to process and analyse end user data to reveal patterns, trends, associations and key behavioural traits.
· Today, its solution is applied to more than 120 million end users globally and has been deployed in six Telcos including Robi Axiata, Smart Dialog, Bahamas Telecom and Inwi with two further in implementation.
· Significant barriers to entry, including deep knowledge of the domain, data science, algorithms and advanced software languages.
· Strong pipeline of new business; Pelatro is in discussions with 18 Telcos, across four continents, of which six are in advanced stage and a combined end user base in excess of 150 million end users
· Pelatro intends to expand its reach in new geographies, principally Europe and North America, while continuing to further its presence in Latin America, Africa and Asia.
· Dealings in the ordinary shares are expected commence at 8.00am on 19 December 2017 under the ticker “PTRO” with the ISIN GB00BYXH8F66.
· Successful placing by finnCap which saw strong demand from a number of institutional investors, raising a total of £4.6 million.
· Placing consisted of 6,102,212 new ordinary shares, raising gross proceeds of £3.8 million for the Company, and 1,314,216 existing ordinary shares in the Company, raising gross proceeds of £0.6 million for the selling shareholder, all placed with institutional and other investors, at a price of 62.5 pence per ordinary share (the “Placing Price”).
· The Company’s market capitalisation on Admission, based on the Placing Price, is expected to be £15.2 million.
Subash Menon, Managing Director of Pelatro Plc, commented: “I am delighted to announce the proposed admission to AIM of Pelatro. Our intention is to extend the reach of our innovative marketing software and services globally which will require a significant investment in additional sales and marketing.
“Access to the public markets will allow Pelatro to invest in, and take advantage of, growth opportunities. In addition, it will improve our stature with both existing and potential customers.
“We believe the IPO will help Pelatro achieve its ambitions and look forward to delivering value as a public company.”