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MoneySwap

  • BY: Andrew Hore |
  • POSTED: 31/08/2011 |

Online peer-to-peer currency exchange MoneySwap brought forward its flotation date to 31 August but the share price slumped in early dealings. 

The original plan was to join Aim on 12 August but this was delayed to 22 August and then it was going to be 9 September. MoneySwap raised £3.125m at 5p a share, which valued the company at £20m. The net proceeds of the placing were £2.17m. The share price ended the first day’s trading at 3.12p.

MoneySwap’s currency exchange platform is known as MSEx. There are plans to launch a secure online payment mechanism called QuickPayIT.

Download the August 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFAugust2011_23.pdf

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