A Scottish platform trading shares in private companies is due to raise new funds and expects to be among the first operators on the London Stock Exchange’s new PISCES framework.
JP Jenkins, acquired by former Scottish market maker Mike McCudden in 2023, enables stakeholders in private companies to obtain a live price for their shares.
Based in Glasgow and London, JP Jenkins is now the largest private market in the UK, possibly in Europe.
The company is due to announce a £1.2m funding round involving Kelvin Capital and Scottish Enterprise which will support its clients who have a collective value of £3.5bn. The main trading business takes place in London while Glasgow provides the technology and administrative support.
JP Jenkins expects to be among the first operators on the new PISCES regulatory framework which is due to launch in the autumn. Some companies will see it as a stepping stone to seeking a public listing.
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