A new investment company targeting the Middle East e-commerce sector is listing on the Nex Growth Market today.
Dealings of ordinary shares on the company, Indigo Holdings, will start at 8am.
The investment firm has raised more than £800,000 from the float and will have an initial market capitalisation of £1.24m, with shares priced at 3p.
Indigo will be seeking investment opportunities across the consumer foods, financial and technology sectors in the Middle East’s frontier markets, which include Iran, the United Arab Emirates, Iraq, Kuwait, Qatar and Oman.
The company is backed by Turquoise Group, a financial services group offering investment management, brokerage and advisory services for the Iranian market with 110 employees in Tehran and London.
City A.M. understands Indigo chose to list on Nex, as opposed to a London Stock Exchange market, because it is thought to be cheaper to do so and less burdensome.
Peterhouse Corporate Finance is broker to Indigo.