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London Stock Exchange PLC and PrimaryBid sign commercial agreement to broaden access to equity offerings
● Commercial agreement to broaden retail investors' access to Initial Public Offerings, follow-on equity capital increases, secondary block sales and retail bonds
● PrimaryBid's solution digitally connects retail investors to quoted company offerings at the same terms as institutions
● A centralised retail gateway accessible by all London Stock Exchange issuers allowing them to unlock the retail investor pool of capital and liquidity
● Solution works in collaboration with investment banks and stockbrokers to improve outcomes for the whole ecosystem
21st November 2019, London UK: PrimaryBid, the online investment platform connecting publicly listed companies with individual investors for share offerings, today announced a strategic commercial venture with London Stock Exchange.
Together, they will roll out the digital infrastructure that enables companies listed or listing on London Stock Exchange to include retail investors in share offerings on the same terms as institutional investors.
The agreement combines London Stock Exchange's unparalleled expertise in market infrastructure with PrimaryBid's leading digital distribution engine.
PrimaryBid will enable retail investors real-time access to share deals active on London Stock Exchange such as: Initial Public Offerings, follow-on equity capital increases and secondary block sales, and ultimately retail bonds. PrimaryBid will be accessible via London Stock Exchange's Issuer Services Marketplace, complimenting the connectivity with retail investors that the platform facilitates.
Working in collaboration with market intermediaries, the solution will enable investment banks and stockbrokers to service their clients better, create broader revenue channels and help foster a more efficient capital markets framework.
Charlie Walker, Head of Equity Primary Markets, London Stock Exchange plc said: "This agreement is part of our ongoing commitment to broaden the services available to retail investors. Individual investors and issuers will benefit from the additional capital and liquidity available through PrimaryBid's platform, helping to make markets more accessible for all."
Anand Sambasivan, CEO of PrimaryBid, said: "We are excited to be working with London Stock Exchange in laying down the digital infrastructure that gives every day investors equal access to capital markets transactions on the same discounts as the institutions.
This is not only an important development for retail investors. Issuers on the LSE can now access a broader pool of investors to augment capital formation and long-term trading liquidity. This is applicable to companies listed on AIM all the way to the FTSE 100. Having this gateway available during transactions unlocks historical inefficiencies and brings tangible benefits to the ecosystem as a whole.
London Stock Exchange's deep knowledge and trusted relationships with the capital markets ecosystem makes them the ideal partner to help achieve this vision."
PrimaryBid recently closed a £7 million funding round to fuel its global expansion plans, led by Pentech and Outward VC with participation from new and existing investors.
+44 (0) 7812 211 403
Head of Financial Communications
London Stock Exchange Group
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