First IPO for a Mining Company. Way to Go, London Stock Exchange.
Argo Mining is a UK-based mining company and, thanks to an offer published on the London Stock Exchange, it has raised approximately £25 million, or almost £33 million, to the LSE.
Argo Mining had an initial public offering target of £20 million but exceeded it by a further £5 million.
The company started trading with around 156 million shares, which is 53% of its capital, and according to the company’s documents, the shares are quoted at 16 pence. Thus, the company is valued on the market at £47 million or $61 million.
The UK Listing Authority approved in May to Argo Mining to operate on the stock exchange, after which the company was able to launch its subscription service for crypto exchange operations in June.
According to its website, the company has three packages that differ from each other in the capacity of the mining machines; these three packages are already sold out.
The cryptocurrencies that are currently supported are ETC, ZEC, ETH, and BTG.
The CEO said he wants his company to become the Amazon of cryptocurrencies.
Many other companies have been considering IPOs. There are rumors that Bitmain is planning to hold funding round before the IPOs and also to make it public.
Ebang Communication and Canaan Creative are a couple of hardware manufacturers that have applied to the Hong Kong Stock Exchange for an initial public offering.
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