NLP-driven document analysis company, Ayfie, has listed its shares for public trading – an unusual step for a small legal tech startup that is not part of a larger company.
Ayfie has joined the Merkur Market; a marketplace for small and medium sized companies that is not subject to the Stock Exchange Act or the Stock Exchange Regulations, meaning that companies do not have to satisfy the same admission requirements.
Headquartered in Oslo, and with operations now in Sweden, Germany, UK and the US, Ayfie Group is an international provider of search and text analytics solutions that bring structure to unstructured data. Its solutions combine linguistics-based natural language processing and modern machine learning to help provide critical insights, conduct smart search and power business intelligence solutions.
With this platform, Ayfie’s shareholders will now be able to sell their equity holdings more easily, however, it is notable that this move doesn’t raise additional capital, no new shares are being issued to the public, such as in the instance of an IPO.
“This is a great time for us to join the Merkur Market: While COVID-19 is obviously not over, we are definitely seeing business pick up in all areas. Our knowledge discovery product ayfie Locator was recently licensed to several large Norwegian law firms, while our eDiscovery tool ayfie Inspector is gaining traction in the US. As courts get back to work after the lock-down there, we are seeing revenue increase due to a rising number of transactions,” says Johannes Stiehler, CEO of ayfie Group AS. “That is exciting news for us and I am looking forward to sharing the excitement with our current investors who have just recently supported us with a significant private placement, as well as with new investors that will become part of the ayfie story through the stock exchange,” he adds.
See the formal notice for further information: https://www.oslobors.no/ob_eng/Oslo-Boers/About-Oslo-Boers/News-from-Oslo-Boers/ayfie-Group-admitted-to-trading