London Stock Exchange welcomes Mode Global Holdings Plc to the Standard Segment of the Main Market

London Stock Exchange today welcomes Mode Global Holdings Plc (“Mode”), a UK-based founder-led Fintech group to the Standard Segment of the Main Market.


The Company has successfully raised £7.5 million through a placing, giving it a market capitalisation on Admission of £40.3 million. The proceeds for the Company will be used to support Mode’s technology, marketing and licensing roll out and provide working capital. It will trade under the ticker MODE.


Mode’s offering includes a digital wallet that allows users to manage traditional and digital assets such as bitcoin in the same app; Mode’s proprietary bitcoin interest-generating account called Bitcoin Jar; and WeChat & Alipay payment processing and market services for U.K. and European companies looking to access Chinese markets.


After its Admission, Mode will seek to launch a novel payments solution powered by Open Banking that eliminates the need for cards. The new solution will aim to facilitate direct and seamless transactions in traditional and digital currency between businesses and Mode users. Alongside it, Mode will also seek to develop a loyalty and rewards engine that integrates into the user payment flow, and that builds on banking, financial and payment-related insights, allowing businesses to run targeted loyalty campaigns to engage with new and existing consumers.


Jonathan Rowland, Founder & Executive Chairman of Mode said: “We’re incredibly proud to be one of the first financial services companies with a consumer-focused digital asset offering to list on London Stock Exchange’s Main Market. The admission of Mode during the COVID crisis is a huge achievement and part of our aim to bring much-needed credibility and transparency to both FinTech and digital asset industries.


The pandemic has brought many challenges, but our admission today is a vote of confidence in our business strategy and our mission to reduce fragmentation and inefficiencies across banking, payments, investment and loyalty industries.”

 

Advisers to the IPO include:
- Alfred Henry, Financial Adviser
- Peterhouse, Placing Agent and Broker
- Locke Lord (UK), Company Legal Counsel
- Jeffreys Henry, Auditor and Reporting Accountant
- Maitland, Financial Public Relations Adviser

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
36.58
Listing/Admission to trading
05 Oct 2020
Looking for new and recent issues?

More recent

36.52
London Stock Exchange welcomes Tungsten West to AIM

Tungsten West Plc (“Tungsten West” or “the Company”) is a UK based company focussed on recommencing production at the Hemerdon tungsten and tin mine (“Hemerdon” or the “Project”) in Devon, England.

The Hemerdon mine is the world’s third largest Tungsten resource, had over £170m spent on it via the previous operator and has a mine life of 18.5 years. The Company is focused on rebuildin

Learn more
139.92
London Stock Exchange welcomes the Republic of Korea’s Sovereign Green Bond to the Sustainable Bond Market

London Stock Exchange today welcomes the Republic of Korea issuing their €700mn -0.053% note due October 2026 to London Stock Exchange’s International Securities Market. The deal was more than 6 times oversubscribed, receiving bids in excess of €4.2bn from over 150 accounts.

The €700mn 5-year tranche is Korea’s debut green bond and it was admitted yesterday to our Sustainable Bond Mar

Learn more
137.88
London Stock Exchange Group welcomes TPI Global Climate Transition Centre

The Transition Pathway Initiative (TPI) assesses companies’ progress on the transition to a low‐carbon economy. Led by asset owners, the global initiative is backed by an investor network with $40tn of assets under management or advisement.

The market opening at the London Stock Exchange is being held to mark the announcement of the TPI Global Transition Centre, which will provide fre

Learn more
London Stock Exchange welcomes Castelnau Group Limited to the Specialist Fund Segment to the Main Market

The London Stock Exchange today welcomes Castelnau Group Limited (‘Castelnau’), an investment company established to invest in public and private companies with the aim of outperforming the FTSE All Share Total Return Index over the long term.  The ordinary shares of Castlenau will be listed on the Specialist Fund Segment of the Main Market.</

Learn more