- Pelatro announced it floated on the AIM Market of the London Stock Exchange today.

The company said FinnCap is acting as nominated adviser and sole broker to the company in relation to admission.


- Dealings in the ordinary shares of 2.5p in the capital of the company (ordinary shares) will commence at 8am today under the ticker "PTRO" with the ISIN GB00BYXH8F66

- Successful placing by finnCap which saw strong demand from a number of institutional investors, raising a total of £4.6m

- A placing of 6,102,212 new ordinary shares, raising gross proceeds of £3.8m for the company, and 1,314,216 existing ordinary shares in the company, raising gross proceeds of £0.8m for the selling shareholder, all placed with institutional and other investors, at a price of 62.5p per ordinary share (placing price)

- The company's market capitalisation on admission, based on the placing price, is expected to be £15.2m

Pelatro managing director Subash Menon commented: "Our Admission to AIM today marks a major milestone for Pelatro and places us in a strong position to continue with our expansion plans.

"We are delighted at the support we have received from a number of blue chip institutions and thank them for the confidence they have shown.

"Our intention is to extend the reach of our innovative marketing of software and services globally, a process we can now accelerate with the use of the float proceeds.

"Access to the public markets will allow Pelatro to invest in, and take advantage of, growth opportunities.

"In addition, it will improve our stature with both existing and potential customers.

"We look forward to life as a public company and to updating our shareholders on our progress."

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