Alpha Group progressing plans for main market listing

21st Sep 2023 12:24

(Sharecast News) - Corporate financial solutions specialist Alpha Group International updated the market on its ambition to move to the premium list of the main market on Thursday.

The AIM-traded company said it was currently consulting and appointing relevant advisers to aid in the process.

It anticipated the publication of a prospectus detailing the transition by 2024.

While the exact timeframe was yet to be confirmed, the company said it would make timely updates.

Alpha Group said that since its initial public offering on AIM in 2017, it has experienced substantial growth and reaped numerous benefits from being on the public markets.

The board said that being publicly listed had facilitated capital raising endeavours and the formation of employee shareholders and bolstered its reputation.

Its primary clientele, global corporate entities and institutions, had shown increased trust due to Alpha Group's public market status.

The transparency and robust governance accompanying such status were critical factors in that heightened credibility.

"As a business that is growing in size, becoming more global, and gaining interest from increasingly larger clients, particularly within the institutional space, we believe a main market premium listing will serve to further enhance our reputation and support our market penetration as we move into new countries and engage larger clients," the Alpha Group board said in its statement.

"At the same time, premium listing reporting standards will naturally lead to higher levels of governance and disclosure, both of which we know will be well-received by our clients, banking partners and investors alike."

At 1213 BST, shares in Alpha Group International were unchanged at 2,000p.

Reporting by Josh White for Sharecast.com.