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Adamind, an Israeli global leader in media adaptation software products for the Multimedia Messaging Market, raised approximately US$28 million (124 million Shekels, £15 million) net of expenses through the placing of 11,363,636 new Ordinary Shares. The proceeds will be used to build upon the company’s position as a leader in the media adaptation technology market and to capitalise on the predicted growth of the Mobile Content Services market.
Shailendra Jain, Chief Executive Officer of Adamind, said: “It was an obvious choice to float in London. Our customer base and channel partners are Eurocentric and Europe is the most advanced in terms of next generation services, MMS in particular. AIM is a great market for fast growing companies and there is a pool of high quality investors here. We look forward to life as a listed company.”
Adamind, the second Israeli company to list on the Exchange’s markets in 2005, brings the total number of Israeli companies listed on the London Stock Exchange’s markets to fourteen, of which nine are on the Main Market and five are on AIM. In 2004, US$ 4.0 billion of Israeli securities were traded on the Exchange’s markets.
Martin Graham, the Exchange’s Director of Market Services and Head of AIM, said: “We are delighted to welcome Adamind to AIM and the heart of Europe’s capital markets. AIM provides an effective way for Israeli companies to access London’s equity markets, liquidity and respected regulatory standards.”
He continued: “London remains the only global financial centre to offer a differentiated, yet complementary choice of established public equity markets. So far this year we have welcomed two Israeli companies to our markets, Frutarom to the Main Market and Adamind to AIM. With a healthy pipeline of Israeli companies expressing an interest in a London listing, we look forward to welcoming more throughout the year.”
At the end of 2004, a total of 2,837 companies were listed on the London Stock Exchange. Of these 1,861 companies were on the Main Market, including 351 international companies and 1,021 were on AIM, including 116 international companies.
In 2004 the London Stock Exchange attracted a total of 293 IPOs to the Main Market and AIM, accounting for 79 per cent of all IPOs in Western Europe.
Adamind were advised by Bridgewell.
