Nektan plc to float on AIM

B2B mobile gambling technology and platform provider Nektan Plc has announced its intention to float on the London AIM exchange.

The company aims to raise around GBP 4 million through a placing of new shares, to which Panmure Gordon (UK) will act as advisor and sole broker.

Funds raised via the placing will additionally be used to expand the Group’s business development by providing sufficient working capital to support the operation of the Group’s end-to-end platform, ‘Evolve’ and provide headroom for further investment in product development to expand its mobile gaming suite.

Gary Shaw, founder and executive chairman of Nektan Plc said: “The IPO will provide us with the transparency to expand our business commercially and the capital to develop our platform and further invest in our product development to expand our leading mobile gaming suite to capitalise on opportunities in regulated global gaming markets.”

Nektan targets the US and Europe and currently has a number of white label partners that include Go Win Casino, Red8Casino, William Hill and Winzino.

Trade is expected to commence on AIM on or after 17th October 2014.