Coinsilium, a blockchain venture investment firm has had the public listing of its shares on ICAP’s Securities and Derivatives Exchange (ISDX) delayed until at least January 2016.
Based in the Level39 Fintech Accelerator space in London’s Canary Wharf, Coinsilium advises Bitcoin- and blockchain-based startups, besides investing in them. As reported by Finance Magnates, the firm was scheduled to go public on the London Stock Exchange originally in August 2015. However, Executive Chairman Cameron Parry cited more favorable listing requirements to switch the listing over to ICAP’s ISDX. Coinsilium was launched in 2013 by the founders of Seedcoin.
The firm is also currently engaging in an equity crowdfunding campaign on Seedrs, according to FM. Currently, 77% of the £1.5 million goal (approx. $2.27 million) goal has been reached. The firm also engaged in a crowdfunding campaign through the platform BnkToTheFuture as a pre-IPO sale.
Coinsilium was also stated to be listed on Britain’s junior AIM market (a sub-market of the LSE) with the ticker ‘COIN.’ Compared to AIM, ISDX is still in its infancy and has lower joining costs than AIM. At the time, it is likely that the Chinese economic slowdown, the first since the 2008 crisis and other factors leading to a highly volatile market resulted in a rethink of strategy from the London-based investor.
The pre-sale and the delays bear a close resemblance to the goings-on of Australian bitcoin-mining startup Bitcoin Group. The bitcoin miner recently revealed a new requirement from the Australian Securities and Investments Commission (ASIC) to appoint an independent and qualified expert to look into the startup’s bitcoin mining operation. Bitcoin Group has since issued a new prospectus while scheduling the Australian Securities Exchange (ASX) listing to 20 January, 2016.
As things stand, it will be one of the two companies that is likely to become the first publicly listed bitcoin- or blockchain-based company through an IPO.
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Last modified: May 21, 2020 10:55 AM UTC