£41m appScatter to float on London Stock Exchange's junior market tomorrow

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Chief revenue officer Jason Hill said the firm would be "announcing a number of high profile partnerships over the coming months" (Source: appScatter)

An app distribution and management platform is to float on the London Stock Exchange tomorrow.

The initial public offering (IPO) on the junior Alternative Investment Market (Aim) is expected to value appScatter at £41m.

The software as a service (Saas) platform, advised on the float by Stifel, enables users to distribute and manage their apps across multiple app stores.

The company has raised £9m from the flotation and is planning to use the fundraising to scale up, open an office in Berlin and a new venture in China.

The company, which began generating revenue this year, is aiming to break even in the first half of 2018 and hopes to have 1m subscribers within the next three years.

Jason Hill, appScatter’s chief revenue officer, said “We’re entering into a very exciting phase of our development and will be announcing a number of high profile partnerships over the coming months.”

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Tags: IPOs