London Stock Exchange welcomes Digital Globe Services to AIM
London Stock Exchange today welcomed Digital Globe Services, Ltd. (“DGS” or the “Company”) to open its UK markets, marking the start of dealings in its shares and admission to AIM, today, 14 February 2013 under the ticker DGS.
DGS is seeking to establish itself as the leading provider of outsourced online customer acquisition services through its focus on having the premier technology platform for pricing and procuring paid search advertising on a cost effective basis. The Company currently has over 30 direct and indirect client relationships globally, many of which are with US Fortune 500 companies, and is now pursuing further growth opportunities in Canada, Mexico, Latin America, Europe, and Asia Pacific.
The Company’s shares were placed at a price of 159p, giving the Company a market capitalisation of approximately £47.2 million at the placing price. The offering raised gross proceeds of £13.1 million, including gross proceeds to the Company of c. £5.1 million and gross proceeds to the selling shareholder of c. £8.0 million.
Jeff Cox, Founder and CEO of DGS, commented, “We have been delighted by the support we have received from UK investors and look forward to creating shareholder value as a public company.
“As a profitable, cash generative business, we believe AIM will provide us with an excellent platform for the next stage of the Company’s development, supporting our entry into new geographies and industry verticals as we seek to establish ourselves as the global leader in outsourced online customer acquisition.”
N+1 Singer is acting as NOMAD and broker to DGS and Newgate Threadneedle as financial communications adviser.