Daily raises money to fund AIM admission on new ISDX Growth Market exchange

Web hosting business Daily has raised £550,000 through a placing on the ISDX Growth Market, the replacement to the failed PLUS-SX exchange.

ISDX Growth Market-listed Daily has closed its second fundraising placement in a month and added £550,000 to its coffers.

Daily has raised the capital through the issue of 25,000,000 new ordinary shares at a price of 2.2p.

The ISDX Growth Market is the replacement to PLUS-SX, which inter-dealer broker ICAP acquired in May 2012 for £1.

The transaction came following PLUS Markets Group’s, the old parent company of PLUS-SX, decision to wind down after several years of losses.

Daily, which claims it is the 13th largest supplier of .uk domain name registrations, is now attempting to extend its reach into dedicated servers, cloud hosting and managed hosting services.

It says that this, along with continued development of its existing hosting services, should result in it becoming a ‘one-stop outsourcing partner’ for small and medium-sized businesses in the UK.

Daily also raised £582,584 over the course of August and September 2012 to accelerate the development of services and provide the working capital for its next stage of growth.

Having completed the recent funding rounds, Daily has also revealed that its future strategy will be to move onto the Alternative Investment Market (AIM) once it has gained ‘critical mass’.

A portion of the recent capital raised will now be used to finance its application and admission to trading on AIM.

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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