LONDON (ShareCast) - SPARK Ventures' part-owned mobile communications services provider IMImobile(IMI) floated on the AIM market on the London Stock Exchange on Friday.

IMI raised £30m before expenses through the issue of 25m shares at 120p each.

Early-stage venture capital company SPARK sold around a fifth of its holding in the initial public offering (IPO) to raise aggregate net proceeds of approximately £3.2m,

SPARK's remaining 17% interest in IMI has a value of around £12.9m at the IPO price.

IMI remains SPARK's largest investment holding.

The company’s recent published financial reporting date showed it held 27% of the issued share capital of IMI which was valued at £14.8m on September 2013.

As of 10:50 SPARK's share price was unchanged at 5p.

WS

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE