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I'd like to be a FTSE 100 company,' says Andrew Webley, founder of The Smarter Web Company.
'People might laugh when I say that, because when you're a small company that's just listing it sounds ambitious.'
However, for Webley, the sky is the limit for the bitcoin holding company that he is in the process of listing on the UK stock exchange.
He was head of online at Hargreaves Lansdown in its early digital days, before founding The Smarter Web Company in 2009.
He recalls: 'I remember when we listed Hargreaves Lansdown on the stock market, and it wasn't even a FTSE 250 company.
'Everyone said at the time it wouldn't become a FTSE 100 company, and it did.'
'When I set up my business 15 years ago people said to me at the time that it wouldn't work, and that it's a competitive marketplace, and it's hard to run a business. But I've been profitable every year for 15 years.'
On Monday, the firm opened its initial public offering to retail investors through a reverse takeover of Uranium Energy Exploration PLC, an unlisted public company, that will be renamed The Smarter Web Company PLC following admission to the Aquis Stock Exchange Growth Market on 25 April.
The Smarter Web Company Ltd will then become a wholly-owned subsidiary of the new public company.
The retail offer closes at 5pm on Thursday 17 April.
The Smarter Web Company offers web design and digital marketing services to more than 250 different clients. The firm has its own proprietary content management system and 30 per cent of its income is recurring revenue.
The firm is looking to boost revenue growth through building its established services and through its acquisition strategy.
At the core of the new strategy as a public company though, is the aim to adopt a digital asset treasury policy that includes holding value in bitcoin.
'By far the best asset the world's ever seen, in my opinion, is bitcoin,' Webley says.
He adds: 'My two biggest passions in my professional life are programming, and everything that we do in terms of the Smarter Web company operating business and bitcoin.
'What better thing could there be than having a business that's got those two things wrapped up together?'
But Webley wasn't an instant bitcoin convert. In fact, he says, it wasn't until 2017 that his interest began.
The Smarter Web Company started accepting bitcoin payments in 2023.
He said: 'I didn't have the conviction that I've got in it today, unfortunately. But about four years ago I invested in a company called MicroStrategy.'
MicroStrategy, now operating as Strategy, is one of the most popular stocks out there. At the time of writing, the firm's shares were the fifth most dealt stock on IG's trading platform.
Webley says: 'I was thinking, "This is great, but I live in the UK. Who can I invest in so that I can have UK company doing the same thing that some of these global companies are doing?"
'There just wasn't one I felt was worth investing in. A year ago I thought: "Why don't I do it, why don't I list my own company?"
The IPO, along with the firm's digital asset reserve strategy, according to Webley, will allow The Smarter Web Company to grow its business while continuing to store and grow value in digital assets.
Webley says his firm has already seen 'slow but steady growth' since its founding, but argues a listing will allow him to 'do a lot more marketing and to get much better visibility'.
He adds: 'One thing all the companies that are doing something related to bitcoin in other markets have in common is that they're not particularly interesting, or don't have as much growth potential.
'The thing about us is that there's tremendous growth potential there, we could be five or 10 times bigger within a couple of years. It's very scalable.'
The retail offer is taking place alongside an institutional placing for up to 80million new shares worth 2.5 pence each.
The IPO will seek to raise up to £2million. Some £1.08million has been raised by the company so far through 0 per cent convertible loans that will convert to a 20 per cent discount to the issue price on admission.
Investors can participate in the retail offer by contacting their broker or wealth manager, with the offer having a minimum subscription of £500.
Applications can be made through both Isas and Sipps.
Investors can also apply through online platform AJ Bell up to 3pm on Thursday 17 April. The offer will close completely at 5pm on Thursday.
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