Bitcoin and blockchain-focused venture investment firm Coinsilium has reportedly revived plans to raise capital through an initial public offering (IPO), now seeking a listing on ICAP’s Securities and Derivatives Exchange’s (ISDX) growth market.
The firm invests in, incubates and advises Bitcoin and blockchain-related startups. It is looking to raise another £3 million ($4.6 million), which would double the reported investment it has received to date.
It had originally planned to list on the London Stock Exchange’s Alternative Investment Market (AIM) this past August, which would have been the first IPO of a company in the crypto industry. All other publicly traded companies in the space got there through reverse merging with shell companies already listed.
But it called off its plans in September, according to Reuters. Coinsilium’s Executive Chairman Cameron Parry said that listing requirements were more favorable on ICAP than AIM, without getting into specifics.
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AIM has been favored by startups and smaller companies looking to raise capital with less burdensome listing requirements. ICAP’s ISDX has lower costs for joining but has not yet attracted a large following among institutional investors.
ICAP provides post-trade risk mitigation and information services for wholesale market participants, and operates a number of trading platforms for various asset classes.
Coinsilium’s expected listing date is now November 23.
As of a few weeks ago, Bitcoin Group would have become the first in the industry to IPO. It had originally planned to go public more than a year ago, and had appeared to finally gain clearance for this November 11, but additional hiccups pushed the listing date to December 11.