Commodity Watch, which operates the market news service Minesite, has floated on PLUS.
The company had a market capitalisation of just under £5.2m upon listing with shares valued shares at £1 each.
The float will be helped to expand its news and information services, and the company will be making announcements next month.
Minesite has been operating since 1998 and about 300 businesses have subscribed to the site.
Commodity Watch’s directors believe that providing a market for the shares will be beneficial to its existing shareholders as it will establish a valuation for their investment.
“We want to get exposure and put a value on the shares and later to use the shares as a source for further expansion,” said Charles Wyatt, founder of the company.
“The PLUS market seemed like a good place to do this. A number of AIM-listed companies have found, after spending a lot of money, that there’s not an awful lot liquidity in the market.”
Wyatt said that the listing was a fairly straightforward matter and was achieved quite quickly, as the company wasn’t looking to raise money.
The company was advised by Loeb, Aron and Company Ltd on the listing.
© Crimson Business Ltd. 2007