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WeCap PLC on Tuesday said its main subsidiary WeShop Holdings Ltd has publicly filed a registration statement to directly list class A shares on the Nasdaq Capital Market. This follows an announcement in December that WeShop had filed confidentially for a possible US listing. WeCap, formerly IamFire, is a London-based investor in ‘social commerce and green energy’. As of January 30, the firm’s total equity interest in WeShop was around 16.2% of WeShop capital, with an estimated £24.6 million see-through value. This includes convertible loan notes representing 10.05% of WeShop capital, and exposure through WeCap’s 23.5% stake in Community Social Investments Ltd, whose sole asset is 8.3 million WeShop shares. WeShop describes itself as ‘a shoppable social network’, where users can purchase from online retailers whilst making recommending goods and services. This allows them ‘the potential to earn ownership in the business’, WeShop said. The business expects to go public in the US once the Securities & Exchange Commission has completed its review process and the registration statement is declared effective,‘subject to market and other conditions,’ WeShop noted. Tom Richardson, chair of parent company WeCap, called the filing ‘an important milestone in WeShop’s journey to becoming a global social commerce leader.’ ‘We believe the business model, which combines social recommendation with user ownership, has the potential to disrupt traditional e-commerce and create substantial long-term value for both users and shareholders alike,’ Richardson added. ‘WeCap will continue to keep shareholders updated as WeShop advances through this important milestone toward a potential US public market listing.’ According to its results for the six months ended October 31, WeCap currently generates no revenue, though its interim pretax loss narrowed to £379,203 from £389,090 the previous year. WeCap shares last traded 12% higher at 2.18 pence on Tuesday morning on the Aquis Exchange. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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