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A further blow to the London stock market today as the small-cap tech investment firm said its status as a listed company was an “impediment” to growth and its board unanimously agreed to delist. It was done.
Quantum Exponential Group, which invests in quantum computing businesses, said it has received several “serious” expressions of interest from investors, but that “the company’s status as a publicly traded company will complete any plans.” “It has been repeatedly said that this is one of the obstacles to achieving success.” These investors generally prefer investing in private companies and therefore need to enter into investment agreements. ”
Despite a clear increase in investor interest in quantum computing during the same period, with quantum computing technology seen as revolutionizing the application of artificial intelligence, the company’s stock price fell on the Aquis exchange in late 2021. Since going public, the stock has fallen about 80%.
On the London Stock Exchange, just 23 issuers went public in 2023, down 49% compared to the 45 recorded in 2022, making it the quietest year since 2010, according to EY statistics.
“The overall liquidity and valuations of all micro-cap listed companies have also declined significantly since their inception. This has not been helped by the geopolitical situation with rising inflation and interest rates.” Quantum Exponential said.
“Significant direct and indirect cost savings could also be achieved, which would provide shareholders with the potential for higher long-term returns if the company were to be delisted.”
A shareholder vote on the delisting plan will take place on March 15, and if approved, the company will exit the exchange in two weeks.
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