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XCAP Securities

  • BY: Andrew Hore |
  • POSTED: 19/09/2010 |

Recently launched Aim broker XCAP Securities joined Aim on 17 September having raised £5m at 4.5p a share.

XCAP’s operations cover stockbroking, market making, corporate advisory and asset management. The net flotation cash of £4.75m will provide regulatory capital and enable XCAP to build up trading books. XCAP previously raised £3.07m at 2.5p a share in a pre-IPO fundraising.

Proquote founder Daron Lee and former Evolution market maker Chris Potts were the founders of XCAP. Lee is the company’s chief executive, while Potts is a consultant to the market making business. They each own more than 19% of the company.

XCAP makes markets in 179 stocks and plans to increase this to more than 500 stocks in one year’s time.

XCAP is broker to eight Aim companies, including itself.

At 4.875p a share, XCAP is valued at £18.9m. 

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