A co-founder of Argo Blockchain a Bitcoin mining company is about to launch the IPO of a new crypto company. This newly introduced company will focus on decentralized finance.
Dispersion Holdings will put money into the decentralized finance sector which uses blockchain technology and cryptocurrencies to remove intermediaries from financial transactions.
Through joint braker together with Tennyson Securities and the company’s corporate adviser Novum Securities, the company is aiming to place 200 million shares at 5p each. First dealings in the shares are supposed to take place later this month.
Dispersion aims to raise £10m approx. before expenses in a float that will value the company at £25m approx.
The co-founder of bitcoin miner Argo blockchain is Edwards. In 2018, the company floated in London at 16p a share. Now, its shares are trading at 163p. This was boosted by the surge in the price of bitcoin over the previous year.
Edwards, the man behind Argo said that Dispersion was founded on the same theory as Argo. The company aims to give investors exposure to cryptocurrency but without technical barriers to entry.
Edwards further said that Dispersion would follow a portfolio approach. It will be investing in the infrastructure thereby laying a strong foundation for sectors like crypto wallets and blockchain Ethereum. It will also be investing in early-stage fintech companies in the space.
Talking about Edwards, he is also a director of NFT Investments listed on Aquis on April 16th, raising £35m to invest in NFT. Also, he is a co-founder of Guild Esports.