Mode raises £7.5 million in first day of trading on London Stock Exchange
Mode Global Holdings PLC ("Mode"), the UK-based Fintech Group, is pleased to announce that Mode's entire issued ordinary share capital has today been admitted to the standard listing segment of the Official List of the FCA and to trading on the London Stock Exchange's Main Market for listed securities under the ticker "MODE".
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Mode has successfully raised £7.5 million (before expenses) by way of a placing of 15 million new Ordinary Shares with institutional and other investors at a price of 50 pence per Ordinary Share (the "Placing Price"). Mode's market capitalisation at the Placing Price on admission will be £40.3 million. Peterhouse Capital Limited ("Peterhouse") is acting as Sole Broker in relation to the Admission.
Jonathan Rowland, Executive Chairman, commented: "The Mode offering was oversubscribed and well supported by existing investors and a range of new institutional investors. Today marks a pivotal moment for Mode, as one of the first publicly listed financial services companies with a consumer focused-digital asset offering to list on the LSE Main Market. Mode's admission is a vote of confidence in our business strategy and our mission to reduce fragmentation and inefficiencies across the banking, payments, investment and loyalty industries."