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GenIP PLC on Wednesday said it plans to start trading on London’s AIM market in two weeks. The London-based company uses generative artificial intelligence aimed at empowering companies to better evaluate and commercialise technology discoveries through its services. GenIP aims to start listing on October 2, targeting a raise of £1.5 million and anticipating a market capitalisation of £6.5 million on admission. GenIP is a portfolio company of London-based intellectual property investor Tekcapital PLC, which positively noted the announcement. Chair of GenIP is David Willetts, who is a non-executive director at Tekcapital and served as UK minister of state for Universities & Science from 2010 to 2014. He has been a member of the House of Lords since 2015. The chief executive officer of GenIP is Melissa Calderon, and its chief financial officer is Kevin Fitzpatrick. Tekcapital expects to own about 63% of the share capital of GenIP at the time of the IPO. Tekcapital Executive Chair Clifford Gross said: ‘Now, having forged commercial relationships with leading research institutions and successfully launched revenue-generating GenAI analytics services, we believe [GenIP] is well placed for the next chapter of its growth story as a stand-alone company providing GenAI services to the wider market. ‘The new services were launched in September 2024 whereupon the company received orders for 40 analytical assessments and three executive search assignments.’ Tekcapital shares were 4.0% higher at 6.50 pence each on Wednesday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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