Admissions:
Winvia Entertainment (WVIA.L) the technology-led entertainment business focused on two discrete fast-growing channels, being the large and highly fragmented UK Prize Draw market and the regulated Romanian online gaming market, announced its First Day of Dealings on AIM. The Group raised £40m at 195p giving a market cap of £205m. The Group's pro forma gross revenue was £153.2m for the year ended 31 December 2024, representing 57 per cent. year-on-year growth. The Group also generated Adjusted EBITDA of £15.3m in the year ended 31 December 2024. The net proceeds of the Placing are to fund acquisitions in the UK Prize Draw sector and the Company is in discussions with several potential acquisition targets.
Delistings:
None
Whilst we were away…
Admissions:
24th October: Pan African Resources (PAF.L) moved from AIM to the Main Market.
30th October: GB Group (GBG.L) moved from AIM to the Main Market.
31st October: Cindrigo Holdings Limited (CINH.L), the clean baseload energy developer and producer, following on from its May 2024 delisting, rejoined the Main Market with a market capitalisation of £40.1m, raising gross proceeds of £2.06m at 12p. There was also the conversion of £9.3m principal amount of CLNs at an average blended conversion price of approximately 17p.
Delistings:
30th October: Renold (RNO.L) delisted from AIM.
What’s baking in the oven?
Potential** Initial Public Offerings:***
24th October: Sterling Digital, the bitcoin mining business, has announced its intention to seek admission on the Access segment of the Aquis Stock exchange. The Company’s objective is to deliver sustainable long-term growth via compounding bitcoin exposure through cheapest-in-class mining and active management of bitcoin reserves. The Company expects to raise money and Admission on or around 11 November 2025.
27th October: Falconedge, the London-based provider of turnkey advisory solutions for emerging and established asset managers, has confirmed its intention to list on the Access segment of the Aquis Stock Exchange. Falconedge’s services span a wide range of functions, including effective fundraising and investor relations, strategic advisory and operational support, advising on treasury diversification strategies, DeFi yield structuring and tokenomics advisory and custody, staking and on-chain compliance matters, solutions and guidance in converting leads to clients and providing market insights on improving and optimising outreach when marketing investment products to companies. Falconedge is preparing to adopt Bitcoin as its primary treasury reserve asset. The Company expects to raise money and Admission on 5 November 2025.
30th October: Shawbrook Group, the high-growth, high-return UK digital banking platform, confirmed its intention to proceed with an IPO onto the Main Market. The Offer Price has been set at 370 pence per Share, implying a market capitalisation at the commencement of conditional dealings of approximately £1.92bn. The Offer comprises 13,513,513 new Shares to raise £50m of gross proceeds, and 80,493,537 existing Shares being sold by the Company's existing sole shareholder, Marlin Bidco Limited.
The commencement of unconditional dealings in the Shares on the London Stock Exchange, is expected to occur at 8:00 a.m. on 4 November 2025.
31st October: Princes Group, a leading international platform in the UK and European food and beverage sector, confirmed its intention to proceed with an IPO on the Main Market. The Offer Price has been set at 475 pence per Ordinary Share, equating to a market capitalisation of approximately £1.162bn at the commencement of conditional dealings. The Offer comprises 84,210,526 new Ordinary Shares to raise primary capital of approximately £400m of gross proceeds, to support the Company with further inorganic growth via acquisitions. Assuming that the Over-allotment Option is exercised in full, the final offer size will be approximately £420m. The commencement of unconditional dealings in the Ordinary Shares on the LSE, is expected to occur at 8.00 a.m. on 5 November 2025.
Market Movers
24th October: CVS Group (CVSG.L) announced its plan to move from AIM to the Main Market. The Company expects Admission in early Q1 2026, subject to FCA approval of a prospectus and the ordinary shares being admitted by the FCA to the Main Market. The Group does not intend to raise funds in connection with the move.
Banquet Buffet****
80 Mile 0.79p £34.08m (80M.L)
The exploration and development Company with projects in Greenland and Finland has entered into a Binding Head of Terms with USFM Corporation to fund $30m to earn 51% of the Disko-Nuussuaq project in West Greenland. 80 Mile as the operator and will receive a management fee of 12.5% of the total expenditure as well as a £0.5m payment upon signing definitive agreements. The new funds are to be directed towards drilling rather than reprocessing data with a minimum of $10m to be spent within 10 months of the signing. Drilling target are being selected and drilling is expected to commence in spring/summer 2026.The project is among the most exceptional assets in Greenland, for nickel/copper sulphide with scale and potential that could carry far-reaching implications for global supply.
Croma Security Solutions Group 83.5p £11.08m (CSSG.L)
The service-focused security solutions provider reports finals to June 2025. Revenue improved 10% to £9.63m along with a 10% improvement in EBITDA to £1.17m and the Operating profit was little changed at £0.6m. The net cash is £4.3m and an increased dividend of 2.4p from 2.3p is to be paid. Two locksmiths were acquired and reported to be performing well. The growth strategy is to acquire family-owned locksmith businesses and integrate them into Croma’s network of security centres. Presently, investment is being made in building core functions to be able to accelerate the pace of acquisitions. There is a pipeline of potential acquisitions and the Company expects to acquire 3-5 stores per annum. The next few months should see a run of acquisitions which together with continued organic growth will deliver a step-up in turnover.
Ensilica 45.00p £41.54m (ENSI.L)
The chip maker of mixed-signal ASICs (Application Specific Integrated Circuits) updates on the progress across several of its customer projects and new contract wins ahead of the annual results being published tomorrow. This includes a major shipment milestone of over ten million ASICs delivered for use in a premium automotive manufacturer's vehicles. The programme was secured in 2018 with shipments surpassing five million units in September 2024, and more than doubling volumes in a year which underlines just how ASIC programmes can rapidly scale as well as drive strong recurring cash generation. The Company has recently secured a number of new definition and feasibility study contracts, with confirmed orders totalling more than £1.6m in revenue and these engagements could progress to full ASIC development and production. The Annual Results to May 2025 are published tomorrow.
Fusion Antibodies 14.00p £15.34m (FAB.L)
The specialists in pre-clinical antibody discovery, engineering, and supplier for both therapeutic drug and diagnostic applications, provides a project update. The OptiMAL project, a collaboration agreement with the National Cancer Institute (NCI), has already demonstrated superior affinities for antibodies against protein targets. The Company can report that OptiMAL has been now shown to be similarly successful with smaller peptide targets. These are easier and more cost effective to synthesize, but can result in poorer antibodies which is not the case with OptiMAL. As no immune response is required, consequently it can be used in a wider range of targets. This broadens the accessible market, increasing revenue potential. The next steps are to test the antibodies in cell-based assays at the NCI, to evaluate their potential to become therapeutic drug candidates.
Mycelx Technologies Corporation 26.5p £6.21m (MYX.L)
The clean water and clean air technology Company won a $3.9m contract for a water treatment project in the US Permian Basin, the most active and productive oil region in the world. The system will be owned and operated by a major Midstream Operating Company that provides water management services to producers in the region. Under the contract, MYCELX will supply its patented REGEN system, an advanced water treatment technology. The system will be installed to manage the customers' significantly increased water volumes resulting from rising water-to-oil ratios. This project, which is expected to be delivered in 2026, is included within current market expectations, although there are advanced discussions on a number of additional US Permian Basin projects.
Northcoders Group 35.00p £2.68m (CODE.L)
The technology training and consultancy business report that its challenger consultancy brand, Counter, has secured a series of new assignments, renewals and extensions with existing clients. The new engagements are worth over £0.7m and include new projects and continued work with both corporate and government clients. The contract reflects the investment in its leadership team and also demonstrates the growing demand for Counter's differentiated consultancy model. These client case studies and renewals are expected to provide a platform for continued growth.
Optima Health 202.5p £175.33m (OPT.L)
The technology enabled corporate health and wellbeing solutions provider updates on trading in the Interims to September 2025. In line with market expectations, revenue has increased 7% to around £59m and the net debt is £4.7m.Two strategic acquisitions have been made during H1 to accelerate long-term growth and continue to increase in market share and broaden capabilities. The Company has commenced a programme to ensure the platform scales efficiently and mobilisation is underway on a £210m contract to deliver medical assessment services to UK Armed Forces. The interims are expected to be announced in December, and the Board is confident of growth for the FY 2026.
Renalytix 7.75p £36.05m (RENX.L)
The precision medicine diagnostics Company with kidneyintelX.dkd, the only FDA-approved and Medicare reimbursed prognostic test to support early-stage risk assessment in chronic kidney disease, reports FY June 2025. Revenue increased 30% to $3m with a 54% decrease in the underlying EBITDA loss through various savings and a 50% reduction in laboratory test turn-around time. The operating loss was reduced from $30.5m to $17.2m and cash benefited from the receipt of more than $1m in R&D cash tax credit and an institutional led fundraise in September 2025 for £6.7m. The directors consider the Company is positioned to deliver important and necessary change in chronic kidney disease management.
Synectics 292.5p £51.16m (SNX.L)
The provider of advanced security and surveillance solutions reports a £1.8m five-year contract with Bus Eireann. The contract is through its systems integration business, Ocular Integration, and is with one Ireland's national bus services, to provide Synectics' real-time cloud services across the existing fleet. This technology upgrade with an existing customer enables comprehensive on-vehicle CCTV management through Ireland's cellular network. It shows building momentum in Synectics' systems integration business and the effectiveness of the solutions for the evolving needs of the transport sector.
Verici DX 0.68p £10.59m (VRCI.L)
The developer of advanced clinical diagnostics for organ transplant reports the successful completion of its annual surveillance audit for its ISO 27001:2022 certification. This globally recognised standard specifying data privacy and security requirements for an Information Security Management System confirms that the Company is following the highest level. The continued conformity means that Verici Dx's system meets world-wide best practice with managing risks related to the security of data and can remain a trusted partner globally within the industry
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