London Stock Exchange welcomes Insig AI Plc to AIM
London Stock Exchange welcomes Insig AI Plc (ticker: INSG), a leading data science and machine learning company serving the asset management industry, to AIM today.
Insig AI joins AIM via a reverse takeover of its listed holding company Catena Group plc (“Catena”). The new enlarged group is led by Executive Chairman, Matthew Farnum-Schneider, and Chief Executive Officer Steven Cracknell.
Insig AI, formerly known as Insight Capital, was co-founded by Steven and Chief Technology Officer, Warren Pearson, with a mission to deliver data science and machine learning solutions to enable asset managers to solve critical challenges, improve investment performance and increase operational efficiency. Through their leadership, Insig AI has experienced three successful years of growth leading up to the RTO.
The Group has successfully raised £6.1 million by placing shares at 67p each, representing a premium of 14% to when the shares in Catena were suspended on 2 September 2020.
Matthew Farnum-Schneider, Executive Chairman, said:
“We are incredibly proud to have reached this important milestone. We believe London, as a world leading financial hub, is the best place to grow a Fintech business like Insig AI. We are excited about our admission to London Stock Exchange and the opportunity to create real value for our shareholders.”
“I would like to thank my dedicated colleagues and our advisors who have made this transaction happen. I look forward to Insig AI continuing to provide valuable solutions to its clients and helping the asset management industry realise the extraordinary capabilities data science and machine learning bring to their business.”