By Ian Walker
RegTech Open Project, known as RTOP, plans to float on the London Stock Exchange via a direct listing with trading expected to start on the main market Friday.
The technology business said Tuesday that it expects to have a market capitalization upon listing of 60 million pounds ($76.5 million).
RTOP, which specializes in management, and optimization of regulatory compliance operations, is owned by The AvantGarde Group.
Upon listing the company expects 35% of its issued share capital to be in public hands.
“With issues such as cyber security rising up board agendas, accelerated by recent examples of multinational businesses discovering their operational resilience and business continuity processes are inadequate, now is the right time for RTOP to embark on the next stage of its growth journey by direct listing on the main market of the London Stock Exchange,” Independent Nonexecutive Chair Albert Ganyushin said.
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