The Smarter Web Launches Retail Offer of Preferred Shares

07:35 AM EDT, 09/29/2026 (MT Newswires) -- The Smarter Web Co. (SWC.L) launched a retail offer of preferred shares for investors in the UK as part of an initial public offering, according to a Tuesday release. The British digital services group will issue a new class of preferred shares under the MORE ticker symbol at 90 pounds sterling each. Applications will close on Oct. 9, while results are expected on Oct. 12 and trading from Oct. 14. Overall, The Smarter Web intends to issue up to 277,777 preferred shares to raise gross proceeds of between 15 million pounds and 25 million pounds through the IPO, which also comprises a placing for institutional investors. The net proceeds are estimated between 13.1 million pounds and 22.7 million pounds. The preferred shares will include a right to receive a cumulative variable-rate weekly preferential dividend, initially at 12% per year, as well as a liquidation preference and a right for the company to redeem the shares.