SWC Shares Surge 36% in Week as 'MORE' Preferred Stock Listing Considered

The UK-listed company The Smarter Web Company (SWC) has revealed it is considering the listing of its 'MORE' preferred shares. Odealy reported that the company's share price rose over 36% in the past week alongside this announcement.

On September 11, the company disclosed in a filing that it has assigned the ticker 'MORE' to its preferred shares and is reviewing plans for listing on the London Stock Exchange Main Market. The preferred shares will feature cumulative variable interest rates with weekly dividends, liquidation preference, and company redemption rights, but without voting rights.

The company plans to process a resolution at its September 28 shareholder meeting to amend its articles of incorporation and authorize the issuance of preferred shares. Listing requires shareholder approval and Financial Conduct Authority (FCA) approval of an investment prospectus. SWC aims to raise between £15 million and £25 million through this offering.