London-based blockchain investor Coinsilium has delayed a stock market listing that had been slated to launch in August on Britain’s junior Alternative Investment Market (AIM), said two Coinsilium representatives to Reuters.
The representatives did not give the news agency a specific reason, though one said Coinsilium still plans to launch its IPO eventually and is considering “alternatives” to AIM.
Reuters reported that Coinsilium CEO Eddy Travia told the media in July that the firm’s IPO was scheduled for August and would raise approximately £3 million ($4.6 million) to expand investments. According to its website, Coinsilium has at least 10 different investments in its portfolio.
“It (the IPO) has not happened,” said a spokeswoman to Reuters, declining to provide more information.
Luke Cairns, founder of advisory firm LSC Advisory who works with Coinsilium, told Reuters that the firm still plans to list eventually.
“(Coinsilium) is still planning to go ahead with an IPO but is weighing options, alternatives to AIM,” said Cairns.
SI Capital, listed as company stockbrokers on Coinsilium’s website, did not respond to Reuters’s request for comment.
The news agency suggested one reason for the postponement may by recent market turmoil. Financial market volatility rose to its highest level since the 2008-09 global recession as concerns over China’s economic slowdown and a worsening international growth outlook spurred stock market losses around the world that have only partly been recovered since.