Crowdfunder Seedrs closed its first Secondary Market trading window today.
The idea of a secondary market trading market was announced last month. It opened the window on 6 June and closed it on 13 June. The idea is that with this long term asset class, investors usually have to wait for an IPO, or exit event, before they can realise returns on their investments. By introducing this new facility, Seedrs said it has enabled investors to buy and sell their shares, and in some cases make some impressive returns.
Seedrs pointed out that the market is still in beta and there are restrictions on lot sizes, and other elements. However, they hope that the market will evolve over the coming months to include more features and more flexibility.
Seedrs has provided key stats from the first trading window:
- investors using the equity investment platform have realised “impressive” returns as first secondary market trading window closes;
- 138 share lots were listed from 80 different businesses in the first trading window;
- 57 share lots have already been sold and 40 different businesses have had shares purchased;
- shares in businesses including Veeqo, Swogo, AdLudio, SuperCarers and blow LTD were available for buyers;
- before Seedrs launched the secondary market, they had already completed 213 secondary transactions from 129 companies, transferring over 2.5M shares at a value of £728,000 from 148 sellers to buyers.
The next trading window opens on the first Tuesday in July and already 275 investors have expressed an interest to sell shares said Seedrs.