Fonix Mobile starts trading on junior market

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Fonix Mobile PLC (LON:FNX) has started trading on the junior market.

The mobile payment company raised GBP45mln in an oversubscribed placing of 50mln shares at 90p each, giving the firm a value of GBP90mln.

WATCH: Fonix says ‘right time’ to list on AIM and ready to ‘raise profile’

finnCap is its nominated adviser and sole broker.

“Joining AIM is an exciting and significant milestone for Fonix,” said chief executive Rob Weisz in a statement.

“We are delighted with the strong support from a wide range of institutional and other investors and look forward to further building on our growth strategy to create value for all our stakeholders.”

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