Retail software company Itim goes public in £ 48million London float

Itim, a specialist software company that provides services to retailers, went public through a £ 48million float in London.

The tech company, founded in 1993 by retail veteran Ali Athar, will now be listed on the London Junior Aim Market.

Itim raised £ 8 million by placing 5,194,806 new ordinary shares with institutional and other investors at a price of 154 pence per share.

The initial public offering gives the company a market capitalization of £ 48.1million.

Itim’s technology is designed to help traditional retailers optimize their business to compete with their online competitors.

His clients include John Lewis, JD Sports, McDonalds and WH Smith.

Itim said he would use the float product to develop his software, invest in marketing, and expand the company’s international reach.

It will also reimburse £ 2.1million related to the acquisition of e-invoicing company EDI Plus and explore other potential merger opportunities.

“Our successful IPO and admission to Aim represent an important moment for the company,” said Managing Director Ali Athar.

“We have benefited from strong growth and a clear strategy to execute that growth over the next several years as traditional retailers convert to omnichannel. I am happy to welcome our new shareholders to itim and to look to the future with confidence

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