E-commerce group Samarkand announces float plans
Cross-border e-commerce technology and retail group Samarkand has announced its intention to float on the Aquis Exchange Growth Market.
Samarkand is proposing to raise around £10m from the float, which is targeted for March 2021.
Headquartered in London, Samarkand focuses on connecting Western brands with China.
Samarkand CEO and co-founder David Hampstead said in the first few months of 2020, China added 92 million new e-commerce customers – more than the entire population of Germany – bringing the number of active consumers to 715 million.
“The listing on Aquis will enable us to access capital which can accelerate our momentum, maximise the opportunity ahead and deliver outstanding results for all stakeholders,” he added.
For the eight-month period ended 30 November 2020, the group’s revenue was £16m, including exceptional revenue of £5.8m.
Its EBITDA profit was £2.3m and its profit before tax was £1.8m.