Teathers Financial Plc, the AIM listed investment company, is pleased to announce that the first Initial Public Offering (‘IPO’) has been offered by FCA regulated Shard Capital Partners LLP (‘Shard Capital’) via The Teathers App (‘the App’), which is operated by the Company’s fully owned subsidiary, Teathers Financial Software Limited (“TFSL”), is available to private investors today. This represents the first IPO, worldwide, to be offered through a mobile application provided and developed by TFSL.

All qualified users who have downloaded the App, free-of-charge and on-boarded, will be able to participate in the IPO at the same price and on the same deal terms as institutional investors. The IPO of Leni Gas Cuba Limited (‘LGC’), a company focused on developing projects or businesses with connections to, or relationships in Cuba, has been made available to users of the App, at which point those that have expressed interest in this type of deal flow, will be notified through a pop-up message on their phone. In order to participate in this IPO, and all future transactions offered on the App, users will need to on-board through the App. The IPO has been sourced and provided on an execution only basis by Shard Capital who provide the on-boarding services, the regulatory compliance features and the custodial support framework.

Teathers’ Executive Chairman Jason Drummond said, “The launch of the first IPO through the Teathers App is a milestone achievement not only for TFSL, but also for private investors who for the first time will be able to invest in such an opportunity via a mobile application, at the same price levels as institutions. We believe that this will be the first of many transactions available through the Teathers App, that have been sourced by Shard Capital and we are hopeful that as TFSL begins to roll out its white label strategy, private investors will have access to further deal flow from an array of brokers across the City.”

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