Dispersion Holdings to raise £10m in flotation
By Sean Farrell
Date: Monday 19 Apr 2021
(Sharecast News) - Dispersion Holdings plans to raise £10m in a flotation that is expected to value the decentralised finance investor at about £25m.
The company will place 200m shares at 5p each with investors that will trade on London's Aquis Stock Exchange Growth Market.
Decentralised finance uses blockchain and cryptocurrencies to remove financial intermediaries from transactions with the aim of making financial services quicker, cheaper and more secure. Dispersion will use the money raised to buy minority stakes in fintech companies in the UK, US and Canada and to help the companies get the most potential from their operations.
Chief Executive Mike Edwards is the co-founder of Argo Blockchain, Guild Esports and Cellular Goods. The company said it would use his and other board members' contacts and knowledge to speed up growth at start-ups and early stage companies.
Edwards said: "We are delighted and excited to be taking this bold step into DeFi, the new frontier of the fintech sector, with Dispersion Holdings' listing on a public market. In a rapidly growing and ever-changing sector, our team of experts - from the worlds of cryptocurrency to entertainment - has a wealth of skills, experience and contacts to guide DeFi companies towards a bright future."
Dispersion's other non-executive directors are Timothy Le Druillenec, a director of NFT Investments, Mark Rutledge, CEO of Carraway Capital, and Misha Sher, vice president of sport and entertainment at MediaCom. The company's shares are scheduled to start trading in April.
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