* A corporate client of Hybridan LLP.
** Potential means Intention to Float (ITF) or similar announcement has been made.
***Arranged by type of listing and date of announcement.
****Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication.
Admissions:
On Friday, 27 March, Coiled Therapeutics (COIL.L) (formerly Roquefort Therapeutics) completed a capital reorganisation and moved to AIM. £8.5m was raised at 10p per share with a market capitalisation of £42.6m onto AIM.
Today, Halo Minerals (HALO.L), a mineral development Company focused on the evaluation and potential development of mineral assets, completed its IPO onto AIM. The Company raised £4m at a price of 18p per share, resulting in a market capitalisation of £20m.
Delistings:
Today, Inland ZDP (INLZ.L) left the Main Market.
What’s baking in the oven?
Potential IPOs:***
17 March: Vista Parcs Group has announced its intention to IPO onto AIM. The newly incorporated entity is proposing to acquire a portfolio of 13 UK-based holiday and residential parks currently owned by Barney Group 2 Ltd (BG2) and operated by Baslow Parks Ltd. Deal details TBC and expected Admission date anticipated late March 2026.
4 March: Scotch Corner Designer Village Holdings plc, which is developing a largely pre-let retail and leisure destination in the North of England, announced its intention to apply for Admission to trading on the Aquis Real Asset Market (ARAM) segment of the Aquis Stock Exchange Growth Market. The Company is seeking to raise £25.5m. The listing is expected to complete in April 2026.
Market Movers:***
25 February: Roquefort Therapeutics (ROQ.L),the Main Market listed biotech Company, is acquiring assets from Coiled Therapeutics, Inc. and A2A Pharmaceuticals, Inc. and at the same time moving to AIM. £8.5m is to be raised on Readmission at an issue price of 10 pence per share with an anticipated market cap of £42.6m. Expected Admission date is 27 March 2026.
Banquet Buffet****
Abingdon Health 8.00p £18.20m (ABDX.L)
The international developer, manufacturer and regulatory services provider for rapid diagnostic tests and med-tech is awarded a series of contracts worth around £4.8m. The contracts are with a US-based customer to develop and scale up to manufacture several multiplex quantitative lateral flow assay systems measuring multiple biomarkers simultaneously in human samples. The agreed scope of work and will be delivered over circa 27-months commencing immediately and will be executed via a series of work packages with potential further contracts including the appointment as legal manufacturer. These contracts help to position the Group as the 'go-to' experts for the provision of end-to-end lateral flow test development and programme management.
Altona Rare Earths 2.95p £10.91m (REE.L)
The resource exploration and development Company focused on critical raw materials in Africa announced the publication of the Request For Proposals for the implementation of the Monte Muambe rare earths work program, funded by a grant from the U.S. Trade and Development Agency. Qualified U.S. firms are now invited to submit proposals to undertake the metallurgy and process engineering components of a pre-feasibility study for the development of the Company's rare earths mining and processing facility in the Moatize District of the Tete Province in northwest Mozambique. The deadline for proposal submission is May 4.
Bioventix £15.00 £71.84m (BVXP.L)
The specialist in the development and commercial supply of high-affinity monoclonal antibodies for applications in clinical diagnostics announced its unaudited interim results for the six-month period ended 31 December. Revenue was £6.16m compared to £6.73m in 2024, and profit before tax fell to £4.85m, due to currency fluctuations and challenging market conditions in China. However, the Company reported a five-fold increase in royalties from its Alzheimers-related antibodies and a solid cash reserve of £5.3m, alongside an interim dividend of 70p.
Frontier IP Group 11.50p £8.89m (FIPP.L)
The specialist in commercialising intellectual property reports interims to 31 December. The Pre-tax loss is £3.1m, compared to a £6.3m loss and was due to the impact of two substantial non-cash items. The Operating costs declined by £0.3m, compared to £1.6m due to cost rationalisation. The NAV declined to 52.7p from 67.6p partly reflecting the increased number of shares in issue after a £0.9m fund raise. The cash position is £1.6m compared to £2.6m. Commercial, funding and technical progress is reported across the portfolio and the fair value was £33.5m, a £0.1m increase compared to last year. The Company is actively seeking to raise further equity funds, in parallel with discussions with lenders on potential debt facilities. The focus remains very much on developing portfolio companies to the point where value can be realised.
Gana Media Group 0.2p £33.7m (GANA.L)
The 100% owner of Estadio Deportes reports a strategic media partnership with one of Mexico's leading football leagues, Liga Premier FMF. The agreement establishes a comprehensive content and distribution collaboration designed to expand the league's media presence and deepen fan engagement across digital and broadcast channels. The agreement strengthens Estadio Deportes' position as a sports media platform to deliver consistent, high-quality football content to a growing audience in Latin America. By combining premium sports content with integrated betting capabilities, Gana is building a scalable platform designed to capitalise on the continued growth of the Mexican iGaming market.
Janganda Mines 1.53p £11.8m (JAN.L)
The Brazil-focused natural resource development Company announced an update on the ongoing diamond drilling campaign at the Molly Gold Project in the Tapajós Gold Province of Pará State in Brazil. 13 holes were drilled for a total of 2,076 metres showing mineralisation styles associated with gold. Phase 1 drilling is expected to be completed early April, with Phase 2 of drilling and geological work to commence shortly thereafter. The Company is optimistic about materially expanding its current 130,000-ounce gold resource.
Light Science Technologies Holdings 1.33p £5.09m (LST.L)
The innovative technology and manufacturing business providing real-world solutions targeting issues including global food security and fire safety announces the award of a contract worth approximately £300k for a university in Wales. In addition to the order, a maintenance package, valued at £19k annually, covering the design, supply, and installation of environmental computer control and irrigation systems is also expected. Revenue from the contract is expected to be recognised during the current financial year.
Record 51.00p £99.93m (REC.L)
The specialist currency and asset manager announced that its subsidiary Record Asset Management GmbH, has committed to its third infrastructure transaction through its co-investment vehicle for Swiss pension funds. The co-investment vehicle enables Swiss pension funds to invest alongside ABP (the Dutch pension fund for government and education employees) through APG's Asset Owner Partnership programme, which is managed by APG Asset Management N.V. The commitment relates to APG's agreement, on behalf of its pension fund client ABP and the Swiss pension fund partnership, to acquire a 37.5% stake in NorthC Datacenters B.V., a European enterprise colocation data centre platforms. NorthC is headquartered in the Netherlands and operates across the Netherlands, Germany and Switzerland.
RTC Group 107.5p £13.5m (RTC.L)
The AIM-listed recruitment business that focuses on white and blue-collar recruitment announced that its wholly owned subsidiary, Ganymede Solutions Limited, has been awarded new and extended contracts with major UK infrastructure and energy clients. A key highlight includes a £50m extension with Network Rail for frontline labour through to 2029, alongside new six-year framework agreements for rail isolation and electrification services starting in May 2026. Additionally, the Group extended its smart meter partnership with OVO—expected to generate £5m in 2026—and secured a new multi-year labour framework with Amey.
Spectra Systems Corp 137.0p £60.83m (SPSY.L)
The Company focused on machine-readable high speed banknote authentication, brand protection technologies, and gaming security software announced results for the twelve months ended 31 December. Revenue was recorded at $64.28m, up 30.7% from 2024, while adjusted EBITDA was up 82.9% at $27.31m. This is the Company’s highest level of profitability since its inception, with first sensors delivered to customers resulting in a $5.7m payment in 2025, and a sensor maintenance contract executed with a customer worth approximately $6.7m from 2026-2030. Unrestricted cash was $14.8m (2024: $13.3m) and debt of $3.25m (2024: $4.35m) at 31 December. The Board is declaring an annual dividend of $0.136 per share (2024: $0.116) to be paid in July 2026.
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