Shares in Eurovestech, a London-based venture capital firm that delisted from AIM in 2012, have been admitted for trading on the unlisted investment platform JP Jenkins.
Eurovestech specialises in early-stage software investments in the UK and Europe. Its previous investments include scheduling solutions platform Magenta and vehicle planning SaaS business MaxOptra.
The firm floated on AIM in 2000, where it spent just over a decade before cancelling trading in London’s alternative market in a move that returned £4.4m to shareholders.
Now, after a further decade outside the public markets, the company will begin trading shares via the JP Jenkins platform, which allows unlisted businesses to trade equity and raise capital from investors.
Eurovestech’s admission onto the JP Jenkins platform comes before the London Stock Exchange Group (LSEG)’s planned launch of the Private Intermittent Securities and Capital Exchange System (PISCES).
Expected in the coming months, PISCES will act as a secondary market that will allow private companies to temporarily open up share trading with institutional investors for quick capital raises without the regulatory and financial commitments of a public float.
According to financial news publication FN London, JP Jenkins is among the firms expected to “kick-start ventures under PISCES”, alongside Globacap, Asset Match and Envestors.
LSEG chief executive David Schwimmer said the upcoming venture has attracted “global interest” and would address the issue of limited access to liquidity from private companies.
Critics, including Aquis Exchange founder Alasdair Haynes, have warned that schemes like PISCES will encourage companies to stay private longer at a time when the public markets are in desperate need of renewal.
Read more: This new funding system could be transformative for UK tech
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