FTI has been hired to handle LoopUp’s proposed flotation on AIM, the junior market of the London Stock Exchange, announced this morning. The agency has been retained on a financial comms brief following a competitive pitch.
Announcing its planned flotation, LoopUp said there was a big opportunity to take advantage of the "large, dissatisfied" market for conference call systems.
Founded in 2003, LoopUp has its headquarters in London’s Shoreditch, with other offices in San Francisco, New York, Boston and Hong Kong. The company generated revenue of £10.1m in 2015, a rise of 36 per cent in a year.
LoopUp said it planned to float on AIM to raise funds for continued growth via acquisitions, greater marketing, creating an online sales channel and "further enhancing its product". It also hopes to pay off debt.
LoopUp’s flotation has received publicity in the financial pages this morning, with commentators pointing out that it is among the first IPOs in the UK since the public voted on 23 June for the country to leave the European Union.