Investment company targeting Middle East e-commerce floats on Nex

 
William Turvill
Follow William
(FILES) A picture taken 17 April 2007 in...
Indigo will be targeting the Middle East's frontier markets (Source: Getty)

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.

Read more: British exporters look to Middle East and Asia to avoid Brexit uncertainty

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.

Read more: Middle East bond market on for record-breaking year after $17.5bn deal

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.

Related articles