Strix Group plc, the maker of kettle safety controls and water temperature components, is planning an initial public offering on London's junior market AIM.
The company will issue new shares at 100p each in the placing, which is expected to raise £190mln.
Proceeds will be used to provide an exit from its current investor group, led by AAC Capital Partners, which has held a stake in Strix since 2005.
Following the admission, the board will include Gary Lamb as interim non-executive chairman, Mark Bartlett as chief executive and Raudres Wong as chief financial officer.
Bartlett said admission to AIM will provide an “appropriate structure for the long term development of the business, raise our international profile and enables us to invest in our new product development capabilities to the benefit of our valued customers”.
"Strix has a robust, highly cash generative business model," he added.
"We have a growing global market share and in addition to the key original equipment manufacturers in China, we work with a significant number of the best known brands and retailers worldwide.”
The UK-based group’s market share of the global kettle safety control market is more than 38%.
Strix, which has manufacturing operations in the UK , Hong Kong and China, last year reported an increase in revenue to £88.7mln from £79.9mln in 2015 and adjusted underlying earnings of £33.3mln.
Meanwhile, Arena Events Group plc (LON: ARE) started trading today with 114,639,940 ordinary shares at 1p each in issue. The provider of temporary seating, ice rinks, furniture and interiors expects to raise £60mln through the placing.