UK-based fintech consultancy Alpha Group is set to move its listing to the London Stock Exchange's (LSE) primary market as part of its expansion.
The firm, formerly known as Alpha FX, has been listed on the LSE's Alternative Investment Market (AIM) since 2017. It has applied to have its shares admitted to the premium listing segment of the LSE and to be traded on its main market.
The AIM exchange is faviured by smaller startups due its flexible rules, including a minimum-free float. While the LSE's main market has stricter requirements, especially around revenue, it does provide access to a wider range of investors and greater capital.
“Our business is growing in size, becoming more global, and gaining interest from increasingly larger clients," stated Alpha Group. "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.
"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”.
Should Alpha be successful with its application, the listing should commence from early May.