MicroSalt IPO rescheduled: London admission expected November

MicroSalt has rescheduled its London debut, with the admission date now expected in mid-November. The company had previously expected trade to commence 18th October.

Neither MicroSalt nor founding company Tekcapital have issued any statement on the reasons behind the rescheduling, but for an IPO date to be changed isn’t unusual.

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In fact, it is commonplace for Scheduled Ones issued by companies seeking admission to AIM to be updated with a revised expected first day of trading.

The typical timeframe for an AIM company to list after announcing their intention to float is 4-6 weeks. Should MicroSalt have started trade on 18th October, it would have been in the region of just three weeks.

Although MicroSalt and Tekcapital have not provided any comment in relation to the rescheduling, it is plain to see waiting a couple more weeks will have its benefits.

Geopolitical tensions are creating unfavourable market conditions, which are likely to improve over the coming weeks. In addition, waiting until November will mean markets have more certainty on interest rates. The next Bank of England and Federal Reserve meetings are scheduled for the first days of November.

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Floating a company is the culmination of months, even years, of preparation and amending the listing date to seek more favourable conditions is fairly routine.

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