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NFT Investments issued a total of 1bn shares giving a market capitalisation of £50m
NFT Investments (LON:NFT), an investment company specialising in the non-fungible token (NFT), got off to a strong start as its shares began trading on Aquis Exchange’s AQSE Growth Market on Friday morning.
The investment company, which is the first focused solely on NFTs to launch on a stock market in a major worldwide jurisdiction, said it has been admitted to the Access segment of the market following a “substantially oversubscribed” share placing which raised £35m according to Proactive Investors. This was more than three times the amount initially planned, with an order book of demand that exceeded £100m.
The funds raised by the company set a new record on the Aquis Exchange and was raised from its original £10m target on account of what NFT said was “unprecedented investor demand”.
The company said the money made from its IPO will now be allocated to “identify and carry out due diligence on potential investments” and to provide further capital to support its acquisition and investment strategy.
The company issued a total of 1bn shares which gave NFT Investments a market capitalisation of £50m.
“NFT Investments’ admission to the AQSE Growth Market marks a significant milestone for the non-fungible sector. Our record-breaking raise on AQSE provides a strong foundation on which the company can execute its long-term growth strategy and capitalise on its first-mover advantage,” executive chairman Jonathan Bixby said in a statement.
“We are delighted with the strong support we have received from a wide range of investors and our oversubscribed placing is a real endorsement of our investment plans in a promising market set for growth,” he added.
NFT Investments has been launched by the co-founders of Argo Blockchain, a leading crypto miner valued at more than $1 billion.
The firm had originally expected its market capitalization to be around £25 million ($34 million) and claims to be the first investment company focused solely on the NFT market to launch on a stock market in a major jurisdiction.