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.
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.”