ARB Raises $32.5 Million During IPO
August 6, 2018
ARB, an organization aimed at digital currency mining, has raised over $30 million during initial public offering at the London Stock Exchange (LSE).
Britain-based company named Agro Mining that offers available digital currency mining became the first organization in the digital industry that was listed at the LSE. Reportedly, Agro Mining planned to raise about 25 million dollars via IPO initially.
With reference to the official Agro Mining papers, the company provided its 156 shares to the exchange which equal to 53% of its stock capital. Price per share makes 16 cents with total market assessment of all shares being over 60 million dollars.
Jonathan Bixby, executive chairman of the mining organization, told:
“Argo's admission to the London main market is a major step in the company's development and will put us in a strong position to execute our long-term growth strategy. We are delighted with the strong response from investors which will enable us to grow our business in multiple jurisdictions.”
Agro Mining was granted the UK Listing Authority license late autumn, after that the company launched crypto mining subscription service early summer. With reference to the official website data, the company allows its users acquire three services that differ in mining capacity. The company provides options to mine Bitcoin Gold, Ethereum, Ethereum Classic and Zcash.