Synetec client Argentex Group PLC becomes sixth new listing on the AIM market in 2019.
In June, the London Stock Exchange welcomed the UK-based FCA regulated provider of foreign exchange services to institutions, corporates and high net worth private individuals, Argentex Group PLC.
Since the business commenced trading in 2012, Synetec has proudly developed and managed the company’s software systems. In the last seven years, Argentex has gone from strength to strength with significant year-on-year growth in customers, transaction volumes and revenue, helped by solid, efficient support and maintenance from our bespoke software development team.
Building on this success, Argentex, trading under the ticker ‘AGFX’, has raised £14 million, valuing the company’s market capitalisation at £120 million on Admission. For the year ended 31 March 2019, Argentex reported revenues of £21.9 million and operating profit of £9.4 million.
Celebrating its IPO, co-CEOs and founders Harry Adams and Carl Jani spoke at The Market Open Ceremony. They said: “Today is an exciting milestone for Argentex, marking the start of the next phase of the company’s ambitious growth strategy. We have a strong track record and proven strategy in place to continue to address underserved parts of the FX market. With a stronger balance sheet going forwards, we look forward to our future as a listed company, delivering FX services and advice to our clients, while generating attractive returns for our investors.”
George Toursoulopoulos, CEO, Synetec said: “We’re thrilled that Argentex have launched on the AIM market of the London Stock Exchange, an exciting move for the company which we’ve seen grow with enormous success since we started working with them in 2012. We look forward to continuing to work with them on their growth strategy as a successful listed company.”