UK banking systems vendor Financial Objects is to transfer its listing from the London Stock Exchange's Official List to the junior market AIM in a bid to cut costs and improve investment opportunities under a more flexible regulatory environment.
Following the group's recent acquisition of Wealth Management Software and return to profitability last year, the firm says its has set sights on further growth, "both organically and by acquisition", over the next few years.
Roger Foster, chairman and acting chief executive of Financial Objects, comments: "We believe that a move to AIM will allow the group to optimise its potential by providing the flexibility needed to drive the business forward while at the same time giving the company the potential to access a broader shareholder base."