Placing raises £1m in gross proceeds through issue of 100,000 Ordinary Shares

Blockchain technology company Consilium has been admitted to the IDSX trading platform, the company has announced.

Upon admission, Coinsilium had 69,793,500 Ordinary Shares in issue, representing a market capitalisation of £6.98 million. A further £123,396.80 was raised at a price of 10p per share via the FCA regulated Seedrs crowdfunding platform.

Coinsilium is the world’s first blockchain technology focused company to be admitted to trading on an Exchange Regulated Market. The company is set to launch its accelerator program for blockchain tech start-ups, “Block Chain Space”, in Europe in February 2016.

The Board of Coinsilium has a combined total of more than ten years’ experience in the blockchain technology industry which itself is considered not more than three years old.

The net proceeds of the fundraising will be used to provide working capital for the revenue generative divisions, progressing in-house development projects and to commence Coinsilium’s accelerator program, Block Chain Space.

The company’s executive chairman Cameron Parry said the board was “delighted to be the world’s first IPO of a blockchain technology company”.

“[It is also] the first to offer retail investors the opportunity to gain exposure to a diverse group of these potentially disruptive technologies and to this fast  growing sector. This is not only a significant step for the company but also for the blockchain industry in general,” he continued.

“The UK has been a welcoming jurisdiction to date for fintech and the evolution that blockchain technology represents to the transfer of value online, and we are pleased to play our part in seeing London be one of the world’s leading innovation hubs in this regard.”