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As Prologic waves a fond farewell to AIM (see here), another software firm joins our junior market. Salzburg-based automotive dealer systems software firm, Incadea, launched on AIM today, placing some 18m shares at 75p to raise €17m gross. The placing values the company at €47m/£38m.
Incadea does not operate in the UK, but management saw AIM as the best bet for a float over Nasdaq (too distant) or the German junior market (more oriented to retail investors). The fact that they got the IPO away in the current climate must be considered some sort of a triumph. However, I suspect this will be more a trickle than a flood.