US-based electronic mobile billing systems experts Boku has released a statement which highlights its plans to list on London's Alternative Investment Market.

The intention to float was outlined last Friday, but the company’s announcement gave no pricing details or indeed any indication on how much the firm is looking to raise. The one detail that was confirmed was the intention to admit the new shares on 20th November.

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Boku has stated that the float would simplify its capital structure and provide access to new sources of funds, with which they would be able to strengthen new product development capabilities.

A spokesperson for Boku said:

Boku's platform connects its customers, including Apple, Google, Facebook, Microsoft, Spotify and Sony, with the billing, identity and sales systems of mobile network operators. The group's technology makes a consumer's mobile phone number a convenient and secure payment method, providing an alternative to credit and debit cards.