Trading in shares of Coinsilium, which debuted on ICAP’s Securities and Derivatives Exchange’s (ISDX) growth market on Friday, has been light and uneventful thus far.
Coinsilium, according to its website, is a blockchain technology investment and development company. The bulk of the nine companies it has invested in are engaged entirely in bitcoin as a currency/asset.
The firm is the first in the crypto industry to go public via the IPO process. It was originally aiming to IPO on London Stock Exchange’s Alternative Investment Market (AIM) this past August, but it later switched to ICAP’s ISDX because of what it said were more favorable listing requirements.
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With the IPO, the firm beat Australia-based bitcoin miner Bitcoin Group to the finish line. Bitcoin Group has been attempting to complete its IPO process for over a year but has encountered multiple delays due to concerns by the Australian Securities and Investments Commission (ASIC). It is tentatively scheduled to go live in February, and would be the first to IPO on a major stock exchange.
Shares of Coinsilium are listed under the symbol COIN. It raised £1 million ($1.48 million) in gross proceeds through the issue of 10,000,000 common shares at £0.10 each.
There have been 10 secondary trades thus far. A total of 262,193 shares were traded on Friday and 68,586 traded on Tuesday. The first trade was executed at £0.12, its highest price thus far. Shares have not traded below £0.10. The latest trade was for £0.107.