Data SMS, which has developed a business to client text messaging service, has began trading on the PLUS.
The young company, established by Terry Munley just 12 months ago, has released its entire stock of 7.5m ordinary shares on to the market and gained a capitalisation upon listing of £840,000.
Data SMS, based in Blyth, Northumberland, says its product can be used by groups as diverse as car dealers and doctors’ receptionists.
The company’s I-Contact system is now ready and the first sales have begun, the money raised from the listing will be used to roll-out its offering to a greater number of clients.
Chairman Roy Stanley says that company should raise around £250,000 from the float which will significantly boost its sales and marketing.
He told icNewcastle: “The past 12 months have been spent getting all the software right and the systems in place.
“Turnover is low at the moment but the first eight systems have been installed in the North-West.
“Ultimately we will get some funding in from the PLUS with an aim of growing it in scale to the scale where it could become an AIM-listed business.”
Data SMS’ was advised by St Helen’s Capital and enlisted the services of market makers are Winterflood Securities and KBC Peel Hunt.
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