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Jendens Securities advises on GBP31m IPO of InternetQ

Jendens Securities, the stockbroking and advisory firm, has advised InternetQ on its AIM listing. 

InternetQ is a mobile marketing services company operating in emerging markets in Europe, the Middle East and Latin America.

The company commences trading of its shares today at an initial market capitalisation of GBP31m. 

The placing involves the issue of 5,641,025 placing shares to raise gross proceeds of GBP6.8m (GBP5.7m net of expenses) for InternetQ. 

Jendens has an initial share price target of 180p, 50 per cent above the listing price. 

InternetQ is used by major mobile operators such as Vodafone, Orange and MTV Network to send promotions to its customers.

Kim Richardson, chairman and founder of Jendens, says: “Jendens has successfully completed the AIM listing of InternetQ in what is still a very difficult IPO market.  We had a clear strategy from the outset and our ability to execute even in turbulent market conditions is testament to the vision and hard work of our team. We embraced support from the Greek market and this has helped to ensure that the IPO has been appropriately supported in its home market as well as with the UK fund management community.”

The proceeds of the placing will be used to expand the company’s operational capabilities and enhance its mobile marketing interactive platform and to set up new offices in its key markets that could benefit from local presence.

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