LONDON STOCK EXCHANGE WELCOMES ADAMIND LTD TO AIM
The London Stock Exchange today welcomed Adamind Ltd to AIM, the Exchange’s international market for smaller, growing companies.
Adamind, an Israeli global leader in media adaptation software products for the Multimedia Messaging Market, raised approximately US$28 million (124 million Shekels, £15 million) net of expenses through the placing of 11,363,636 new Ordinary Shares. The proceeds will be used to build upon the company’s position as a leader in the media adaptation technology market and to capitalise on the predicted growth of the Mobile Content Services market.
Shailendra Jain, Chief Executive Officer of Adamind, said:
“It was an obvious choice to float in London. Our customer base and channel partners are Eurocentric and Europe is the most advanced in terms of next generation services, MMS in particular. AIM is a great market for fast growing companies and there is a pool of high quality investors here. We look forward to life as a listed company.”
Adamind, the second Israeli company to list on the Exchange’s markets in 2005, brings the total number of Israeli companies listed on the London Stock Exchange’s markets to fourteen, of which nine are on the Main Market and five are on AIM. In 2004, US$ 4.0 billion of Israeli securities were traded on the Exchange’s markets.
Martin Graham, the Exchange’s Director of Market Services and Head of AIM, said:
“We are delighted to welcome Adamind to AIM and the heart of Europe’s capital markets. AIM provides an effective way for Israeli companies to access London’s equity markets, liquidity and respected regulatory standards.”
He continued:
“London remains the only global financial centre to offer a differentiated, yet complementary choice of established public equity markets. So far this year we have welcomed two Israeli companies to our markets, Frutarom to the Main Market and Adamind to AIM. With a healthy pipeline of Israeli companies expressing an interest in a London listing, we look forward to welcoming more throughout the year.”
At the end of 2004, a total of 2,837 companies were listed on the London Stock Exchange. Of these 1,861 companies were on the Main Market, including 351 international companies and 1,021 were on AIM, including 116 international companies.
In 2004 the London Stock Exchange attracted a total of 293 IPOs to the Main Market and AIM, accounting for 79 per cent of all IPOs in Western Europe.
Adamind were advised by Bridgewell.
For further information, please contact:
Simon Wheeler Press Office +44 (0)20 7797 4130 newsroom@londonstockexchange.com
Notes to editors:
Graham Dallas, Senior Manager, International Development at the London Stock Exchange will be visiting Israel from the 22-24 February, as part of the London Stock Exchange's drive to attract more Israeli companies to its Main Market and AIM.
To arrange an interview with Graham, please contact:
Simon Wheeler Press Office +44 (0)20 7797 4130 newsroom@londonstockexchange.com
About the London Stock Exchange
The London Stock Exchange is one of the world’s foremost equity exchanges and a leading provider of services that facilitate the raising of capital and the trading of shares.
The London Stock Exchange is the most international equities exchange by trading in the world and Europe's largest pool of liquidity. By the end of 2004, the market capitalisation of UK and international companies on the London Stock Exchange’s markets amounted to £3.5 trillion, with £4.7 trillion of equity business transacted over the year.
The London Stock Exchange is a Recognised Investment Exchange (RIE) under the Financial Services and Markets Act 2000 and is supervised by the Financial Services Authority.