Bitcoin mining firm Argo Blockchain has today confirmed it is carrying out a placing at 10p a share to raise over £5 million. Below is a link to the announcement:
https://www.londonstockexchange.com/news-article/ARB/result-of-placing/16046458
Of course, this "news" won't come as much of a surprise to loyal readers of this website.....
There is talk in the market that Argo Blockchain, the Bitcoin mining group listed in London, is working an equity fundraising.
People following the situation have heard rumours Argo Blockchain, which also has a US listing, could be looking to tap up shareholders for fresh cash, possibly via a placing.
Some people had heard brokers at Tennyson Securities were working on the deal for Argo Blockchain and were looking to raise the funds at around 10p a share. ..
This time last year Argo Blockchain, London's first ever cryptocurrency stock, was preparing to list on the London Stock Exchange to raise £25 million.
The company, which hoped to mine for crypto currencies in China, rode the bitcoin mania wave by listing at 16p with the backing of some serious cornerstone investors and snotty PR advisers from Tancredi...
It's not exactly been a great start for Argo Blockchain, the cryptocurrency mining group, as a listed company on London's main bourse.
Shares in London's first ever listed cryptocurrency-related "business" are down about 43pc since it floated and currently trading around 9p after hitting the market at 16p.
Investors are wondering whether those people/institutions that were issued stock at 8p and lower ahead of the IPO are likely to hold if the stock continues to slump...?..
And below is a confirmation to yesterday's little snippet on Argo Blockchain's shares trading on the main market.
Shares in a company that wants to be the first cryptocurrency business to list in London are set to begin trading tomorrow.
Stock in Argo Blockchain, which hopes to mine for crypto currencies, is likely to begin changing hands on the London Stock Exchange at around 16p tomorrow, said sources claiming to be familiar with the matter...