London Stock Exchange welcomes itim Group plc to AIM
The London-based company’s Ordinary Shares were admitted to trading at 8.00am on Monday 28 2021, under the stock market ticker ITIM. The Admission price was 154p, resulting in a market capitalisation of £48.1 million.
Itim Group plc is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors.
Itim was established in 1993 by its founder, and current Chief Executive Officer, Ali Athar. Itim was initially formed as a consulting business, helping retailers effect operational improvement. From 1999 the Company began to expand into the provision of proprietary software solutions and by 2004 the Company was focused exclusively on digital technology. itim has grown through a series of acquisitions of small, legacy retail software systems and associated applications which itim has redeveloped to create the holistic end-to-end solution for retailers that supports omni-channel retailing through the internet.
Ali Athar, Chief Executive, commented: “We are delighted to be admitted to AIM today, representing an exciting new chapter in the Company’s history. We believe our Admission to AIM will provide us with the platform to execute our exciting growth strategy. We welcome our new shareholders to the Company and are looking forward to our future as a public company and the opportunities it will bring for everyone involved with itim.”
Neil Shah, Senior Business Development Manager, London Stock Exchange: “It’s great to see another founder-led SaaS business go public in London and find strong institutional support from investors such as Herald. eCommerce penetration has been on an upward trajectory for many years and itim’s solution helps omnichannel retailers like Majestic Wines, Sainsbury’s, JD Sports, John Lewis and WH Smith compete effectively with online peers.
Advisors to the transaction:
Nomad & Broker
Reporting Accountant & Auditors
RPG Crouch Chapman