Dotlines Global begins AIM trading after reverse takeover valued at £55.7m

Dotlines Global (AIM: DOTL), a technology group spanning telecommunications, digital infrastructure, cybersecurity and financial technology, has begun trading on AIM following the completion of a reverse takeover that valued the business at £55.7 million.

The company was admitted under the ticker DOTL, with 609.3 million shares in issue giving a market capitalisation of £57.9 million at the acquisition price of 9.5 pence per share.

The deal was structured as an RTO of Dotlines Global and Audra Solutions by Ikigai Ventures, a special purpose acquisition company that had previously traded on the London Main Market, with consideration paid in shares.

Dotlines operates two main divisions: the Sohoj platform, which serves the Southeast Asian diaspora in Malaysia with digital content, services and a mobile wallet; and the Catena and Audra businesses, which provide telecommunications and cybersecurity software in the UK.

Executive chairman Mahbubul Matin said the AIM listing brought together the company's Southeast Asian and UK operations and would provide a platform to support growth in both markets.