Argo Blockchain ’s market value is £47 million, as the total of 156,250,000 shares is valued at 16 pence per share.
Argo is specializing in the cryptocurrency mining and has recently raised £25 million through the IPO (initial public offering).
Argo Blockchain plc, is a UK-based provider of te, is the first officially the first company to be listed on the LSE. The company has exceeded every expectation, by raising £5 million more than predicted.
Jonathan Bixby, Argo’s Executive Chairman, has addressed the recent admission to LSE:
“Argo’s admission to the London main market is a major step in the company’s development and will put us in a strong position to execute our long-term growth strategy. We are delighted with the strong response from investors which will enable us to grow our business in multiple jurisdictions.”
A total of 156,250,000 ordinary shares accounting for 53.2% of its issued share capital is valued at £0.16 per share. Argo has raised £25 million through the IPO which additionally raised the company’s market value to £47 million.
The company will have issued a total of 293,750,000 on admission.
Argo was assembled last December and started providing mining services on in June 2018. It defines its services as “cryptocurrency Mining as a Service (MaaS) to be available at scale to anyone, anywhere in the world.”
Currently, Argo’s associated with four cryptocurrencies, including Bitcoin Gold, Ethereum Classic, Zcash, and Ethereum.
The company defines its main mission as a stress-free way for ordinary people to break into the cryptocurrency business. It allows users to manage the crypto tokens they wish to mine and make simpler choices in terms of which mining pool to contribute to and how to store the generated assets.
The company does not want to expand its services to the cryptocurrency custody, so the users are responsible for the