Kerman & Co LLP advises Coinsilium Group Limited on Admission to ISDX
December 24, 2015
Kerman & Co’s Capital Markets team advised Coinsilium Group Limited (“Coinsilium” or the “Company”) on its admission to trading on the ISDX Growth Market of the ICAP Securities & Derivatives Exchange (“ISDX”). Coinsilium’s shares were admitted to trading on Thursday 24 December 2015. Coinsilium successfully carried out a placing of 10,000,000 new Ordinary Shares at a price of £0.10 per share, which raised £1 million in gross proceeds. The Company raised a further £123,396.80 in gross proceeds via Seedrs’ FCA-regulated crowdfunding platform and issued 1,233,968 new Ordinary Shares at a price of £0.10 per share to those investors.
Coinsilium’s principal activity is to invest in innovative blockchain/fintech companies, with the intent of supporting the further development and commercialisation of these technologies. The Company also provides corporate advisory, consulting and educational services in relation to blockchain technology. In February 2016, Coinsilium is set to launch Block Chain Space, its accelerator program for blockchain tech start-ups.
Cameron Parry, Executive Chairman & Co-Founder, commented: “We are delighted to be the world’s first IPO of a blockchain technology company and the first to offer retail investors the opportunity to gain exposure to a diverse group of these potentially disruptive technologies and to this fast growing sector. This is not only a significant step for the Company but also for the blockchain industry in general. The UK has been a welcoming jurisdiction to date for fintech and the evolution that blockchain technology represents to the transfer of value online, and we are pleased to play our part in seeing London be one of the world’s leading innovation hubs in this regard. We believe that the increased profile of having Coinsilium’s shares admitted to trading will help generate further investment and revenue opportunities, accelerate growth plans and maintain the Company’s position as a market leader in this technological space.”