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Prospectus published and float planned after FCA approval; IPO targets gross proceeds of £15m–£25m by issuing up to 277,777 MORE preferred shares at £90 each, for net proceeds of £13.10m–£22.70m, with an initial dividend rate of 12% per annum on £100 per preferred share.
The company said the retail offer is part of an IPO for new preferred shares under the ticker MORE. It targets gross proceeds of £15 million to £25 million and is conditional on admission by 14 October 2026.
The company said the FCA has approved its prospectus and it plans to launch an IPO of new preferred shares to raise gross proceeds of £15 million to £25 million. It also said a retail offer will close on 9 October 2026 and that it intends to put in place an at-the-market facility from admission.