AppScatter to list on AIM on 5th September with value of £41m


London analytics firm appScatter has announced its intention to float on the AIM market of the London Stock Exchange on 5th September.

Founded in 2015, the company operates a B2B SaaS platform that allows clients to distribute and manage apps on multiple app stores. Customers can also track the performance of their applications.

In connection with the listing, the company has conditionally raised £9m in an oversubscribed placing of 13,846,154 new ordinary shares at a price of 65 pence per ordinary share. This will result in appScatter having a market cap of £41.1m.

The firm claims to currently have over 800 paying users, including app development houses and blue chip multinational media, banking, insurance, entertainment and aviation companies.

Once the firm has listed on AIM, it intends to launch a public version of the appScatter platform.

Philip Marcella, founder and CEO of appScatter, said: “The management team believe that appScatter’s IPO and admission to AIM will enable the company to further expand its market share and continue its rapid growth trajectory.

“We are delighted with the strong demand that investors have shown for our story and look forward to creating value for all of our shareholders as we embark on this exciting journey.”