British mining company Argo Mining PLC (LON:ARB) has collected £25 million ($32.5 million) during the initial public offering on the London stock exchange (LSE). This is stated in the company’s announcement on the LSE website.

Argo released on the stock exchange 156,25 million ordinary shares, which represents 53.2% of the share capital of the company. The cost of one share amounted to 16 pence, the market valuation of the company therefore amounted to £47 million (about $61.2 mln).

Shares of the company started on Friday, August 3, after the LSE approved them in may of this year. Initially Argo, which has officially become the first cryptocurrency company on the LSE, planned to raise £20 million

#ArgoBlockchain listed on @LSEplc today. We were delighted to welcome the company to open the market and join our bespoke offering for our issuers.

— London Stock Exchange (@LSEplc) August 3, 2018

“The release of Argo on the main market of London is an important step in the development of the company, which will allow us to take a strong position for achieving our long-term growth strategy. We are delighted to receive a strong response of investors, and it will allow us to develop our business in different jurisdictions”, — said the Executive Chairman of Argo Mining Jonathan Bixby

Argo Mining offers its users the possibility of remote mining cryptocurrency on a subscription basis and aims to help individual users to participate in the process.

Earlier, representatives of the company said that with the increasing complexity and higher computational capacities needed for effective mining, the sector is becoming less accessible to ordinary users. Mining power Argo based in the canadian province of Quebec.

We will remind, in July it became known that the IPO on the alternative investment market (AIM) under London stock exchange is planning a British-German startup SatoshiPay.

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