London Stock Exchange welcomes Zaim Credit Systems plc to the Main Market
London Stock Exchange today welcomes Zaim Credit Systems Plc to close the Market.
Zaim started its activities in late 2011, becoming an important player in the nascent Microfinance Industry in Russia. The Company provides micro loans (average 95 GBP) for micro duration (20-25 days). Large portions of the Russian population, particularly the lowest and poorest segments, were in need of basic Financial Services which banks could not provide: this is what Zaim has branded as the "Blind Spot” of the finance industry.
Siro Donato Cicconi – Managing Director said:
“Thanks to all the men and women who work for our company we have developed our own Service Model that helps to provide Financial Services to that segment of population in a more and more efficient way. The Company’s growth has been strong, solid and now, profitable. We are grateful to London Stock Exchange to have opened the door to the most prestigious Financial environment and today, we offer to investors the opportunity to participate in the incredible opportunity we see in the market. We are here today for our Primary Ordinary listed shares issue. We have issued 104.000.000 ordinary shares at 2,5 pence price per share for overall raise of 2.600.000 GBP. All proceeds are destined to our loan book growth both on the Stores network and on the On-Line platform.”