London Stock Exchange welcomes Glantus Holdings PLC to AIM
London Stock Exchange today welcomes Glantus to AIM under the ticker “GLAN”, after it raised gross proceeds of £10m for the Company and a further £4m for shareholders. The Placing Price was 102 pence per share resulting in a market capitalisation of £37m at Admission.
Glantus is a global provider of Accounts Payable (“AP”) automation and analytics solutions. It utilises a technology that layers onto existing data systems and transforms and analyses data to improve finance automation, and delivers analytics and data science to business users. The Company products focus on three areas: Active AP Discovery, Intelligent AP Automation and Advanced AP Analytics.
The Company’s solutions are built on its proprietary Data Platform which allows for the capture of data providing automation, visualisation and advanced analytics. It offers real-time and on-demand reporting capabilities that enable various stakeholders in an organisation, including Chief Financial Officers, shared service and finance directors, and AP managers to make data-driven decisions. Moreover, the solution uses automation to improve efficiency, reduce user-related errors and manage risk.
With two principal operational divisions covering EMEA and the US, these solutions are offered to over 300 customers, more than 50 of which Glantus classifies as Large Enterprises, including Fortune 500 companies and other large-multinationals.
The Directors believe that the Company is uniquely positioned to capitalise on the significant investment that enterprises are now making in the automation of the AP function and believe that there are significant growth opportunities available.
The net proceeds from the Placing receivable by the Company will provide the Company with equity finance to support its growth strategy by investing in account management, sales and marketing, and will provide balance sheet strength for the Group to consider further M&A activity. Admission will also increase and strengthen the Company’s corporate profile.
Maurice Healy, Founder & CEO of Glantus, said:
“It is a significant milestone and in many ways it's also the beginning of an even bigger journey for us. We have strong growth plans, both organically and, potentially, through acquisitions to take our product across the globe and we're really pleased to become a public company on London Stock Exchange.”
Neil Shah, Senior Business Development Manager, London Stock Exchange, said:
“We’re delighted to welcome Glantus to AIM and congratulate the company and its advisory teams on its successful flotation.
“It takes considerable effort to build a business from scratch and it’s great to see a serial entrepreneur such as Maurice return to the market.
“Glantus’ successful float underlines the London markets’ support for FinTech businesses to help them build and scale. Glantus represents the fourth high growth FinTech company to go public in London this year to date.
“London Stock Exchange is home to more international businesses than any other exchange. We’re delighted to see a Dublin-headquartered business join AIM, providing access to the deepest pool of capital in Europe, to support its international growth.
Advisors to the IPO include:
- Nominated Adviser and Corporate Broker: Arden Partners plc
- Legal Advisers to the Company: Forsters LLP (English Law), Beauchamps LLP (Irish Law)
- Financial Public Relations Adviser: Flagstaff Communications
To find out more about Glantus Holdings plc, please visit Glantus Investors