Alpha Group lays out plans for main market listing

3rd Apr 2024 12:38

(Sharecast News) - Alpha Group International affirmed its plan to seek admission to the Official List premium segment and trade on the main market of the London Stock Exchange on Wednesday.

The AIM-traded firm said the move was expected to take place in May, with the cancellation of its listing on AIM concurrent with admission.

It said its decision to transition to the main market reflected its expanding global presence and growing clientele, particularly among larger corporations.

By pursuing a premium listing, Alpha said it aimed to bolster its reputation and facilitate deeper market penetration as it extended its operations into new territories and engaged with larger clients.

Moreover, the heightened standards associated with a premium listing aligned with its commitment to governance and transparency, factors that it said weer valued by clients, banking partners, and investors.

Admission remained subject to approval by the Financial Conduct Authority (FCA) of a prospectus and admission to the premium listing segment of the Official List, and admission by the LSE to trading of the shares on the Main Market.

Barring any unforeseen circumstances, admission was expected to take place on or after 2 May, with AIM listing cancellation following suit.

Alpha said it would provide further updates on the progress of the admission process and the timeline accordingly.

At 1212 BST, shares in Alpha Group International were down 0.5% at 1,890p.

Reporting by Josh White for Sharecast.com.