Dispersion Holdings launches new crypto IPO

Dispersion Holdings, a co-founder of Bitcoin (BTC) mining company Argo Blockchain, will make its Initial Public Offering (IPO) of a new crypto company that will focus on decentralized finance.

The company is aiming to get rid of intermediaries or mediators from financial transactions in their decision to invest in the decentralized finance sector that utilizes cryptocurrencies and blockchain.

Company Chief Executive Mike Edwards told to Financial News that they have planned to float on the Aquis Stock Exchange Growth Market. Dispersion targets raising approximately £10 million, putting its company value at £25 million.

Targets for Dispersion Holdings

Through its corporate advisor Novum Securities and joint broker Tennyson Securities, the company is aiming to place 200 million shares at 5p each. The first dealings involving the shares are said to begin later this month.

Edwards, co-founder of Bitcoin Miner Argo Blockchain, said that Dispersion will be adopting a portfolio approach and will be investing in the infrastructure reinforcing the sector such as blockchain, Ethereum (ETH) and crypto wallets, as well as early-stage fintech companies in the space.

The chief executive also said that Dispersion was founded on a similar theory to Argo that aims to give investors exposure to cryptocurrencies without the technical barriers.

Mike Edwards, new crypto company owner

Mike Edwards co-founded Argo Blockchain which launched in London in 2018 at 16p a share. Its current shares are now trading at 163p, mainly boosted by the surge in Bitcoin price.

He also serves as a director of NFT Investments that listed on Aquis on April 16, raising £35 million to invest in non-fungible tokens. He is also a co-founder of Guild Esports that floated in London at 8p per share last October and now trading at 6p.

In his talk with Financial News regarding the new crypto company they are investing in, Edwards said they “hope to create a very large, diversified portfolio that is at the earliest stages of investing in this asset class.”


Image courtesy of BitBoy Crypto/YouTube 

Micky is a news site and does not provide trading, investing, or other financial advice. By using this website, you affirm that you have read and agree to abide by our Terms and Conditions.
Micky readers - you can get a 10% discount on trading fees on FTX and Binance when you sign up using the links above.