AIM is set for a fourth IPO this year as Ocean Harvest Technology confirmed it would list on the junior market on 4 April.
A specialist in producing animal feed from seaweed, Ocean Harvest is raising £6mln at 16p with a market value on admission of £20.1mln.
Major shareholders holders include non-exec chair and veteran venture capitalist Ashley Head with a 13.7% stake after flotation, while wealth manager Rathbones will hold 6.1%.
Founded in 2005, Ocean Harvest is researching the use polysaccharides and other bioactive ingredients present in seaweed to make improvements in animal gut health.
Based in Theale, Berkshire, but with its main operations in Vietnam, the directors estimate it has spent over £20m to date on R&D and commercialising its products.
Its stated aim is to become the 'supplier of proprietary blended seaweed ingredients to the global animal feed industry'.
Aim floats so far this year include Celsius Resources, Fulcrum Metal and Onward Opportunities (today) with three others including Ocean Harvest confirming their intention to IPO.
The other two that have said they will float are Beacon Energy and Fadel Partners.