Betting firm Sportech began trading on Aim this morning after shifting its shares from London’s main market in the wake of pandemic losses.
The London-based company last month said it would delist from the primary London Stock Exchange and trade instead on the capital’s junior market.
Sportech said Aim was more suited to the company’s current size and strategy and would offer greater flexibility over corporate transactions, allowing it to complete deals more quickly and cost effectively.
The move was approved by more than 99 per cent of shareholders following a vote last month.
Sportech, which provides betting technology for online gaming companies, casinos and racetracks, as well as operating gaming venues in Connecticut, confirmed its shares began trading on Aim this morning at 20p each.
It comes after the company suffered a torrid pandemic year, with restrictions sparking a 41 per cent fall in revenue to £20m.
Pre-tax profit also widened from £2m to £5.2m in the year to the end of December.
Sportech sold off a number of businesses and properties over the year in a bid to mitigate the impact of the crisis.