AIM-listed Alpha Group plots move to London’s main market as fintech looks to expand

AIM-listed fintech and consultancy firm Alpha Group International has confirmed its intention to move to the premium list of the London Stock Exchange’s main market as its looks to expand.

The firm, which listed on the bourse’s Alternative Investment Market in 2017, said on Wednesday that, in line with prior guidance, it planned to apply for the company’s ordinary shares to be traded on the main market and be admitted to the LSE’s premium listing segment.

As a result, Alpha Group’s AIM listing would be cancelled with effect from its admission to the main market, which it expected to occur in May. 

AIM allows entrepreneurial companies to float shares with more flexible criteria on aspects like a minimum free float. The LSE’s premium market has stricter requirements on revenue and is the only way to gain entry to the FTSE index.

“Our business is growing in size, becoming more global, and gaining interest from increasingly larger clients. We believe that a Main Market Premium listing will serve to further enhance our reputation and support our market penetration as we move into additional countries and engage larger clients,” Alpha Group said.

“At the same time, Premium Listing standards will align with Alpha’s commitment to providing higher levels of governance and disclosure, both of which we know will continue to be well-received by our clients, banking partners and investors alike.”

Alpha Group’s admission to the main market is not expected to be subject to shareholder approval but will require authorisation from the Financial Conduct Authority.

Peel Hunt is acting as a listing sponsor to Alpha Group, which is required for an LSE premium listing.

Alpha Group, which appointed former Virgin Money CEO and Snoop founder Dame Jayne-Anne Gadhia as chair designate last month posted a 12 per cent year-on-year increase in revenue last year to £110.4m.