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Trackwise Designs' market cap seen at £15.5mln when printed circuit boards firm starts trading on AIM

The group, which is based in Tewkesbury and was established in 1989, has raised £7.0mln from the IPO, with £5.5mln in new equity and the balance to the selling shareholders
IPO cash
Trackwise said new shareholders taking part in the IPO include a raft of City names such as Octopus, Miton and Unicorn Asset Management

Trackwise Designs PLC will have an anticipated market capitalisation of £15.5mln when the specialist designer of printed circuit boards starts trading on AIM on 31 July 2018 following an initial public offering (IPO).

The group, which is based in Tewkesbury and was established in 1989, has raised £7.0mln from the IPO, with £5.5mln in new equity and the balance to the selling shareholders.

READ: Medical cannabis firm Grow Biotech eyes 2019 IPO after raising £2mln of seed money

Trackwise said new shareholders taking part in the IPO include a raft of City names such as Octopus, Miton and Unicorn Asset Management.

The company is split into two divisions, with the RF business unit manufacturing specialist printed circuits, which are primarily used in antenna infrastructure to support the 3G / 4G networks.

The other division, IHT utilises the company’s unique proprietary technology, a patented process, to manufacture unlimited length multilayer flexible printed circuits.

Trackwise pointed out that the group is profitable and cash generative.

It said the IPO will provide the company with “equity finance to support its growth and deliver a strategy of investing in capability and capacity as well as increasing its corporate profile, capital expenditure and further product development and invest in its global sales programme.”

Philip Johnston, CEO of Trackwise, commented: "I am delighted to announce the proposed Admission of Trackwise to AIM, which will position the Company for the next phase of its development in the coming years as we look to capitalise on strong new opportunities within our sector.”

He added: "This will position Trackwise with the prospect of further diversifying its range of products offered under the RF division, as well as significant potential upside as we further address the market for our IHT offering.” 

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