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Trackwise Designs shares notch up solid premium on AIM debut following £15.5mln IPO

The specialist designer of printed circuit boards saw its shares changing hands at 116.5p each in early afternoon trading, having been priced at 105p in the IPO
IPO
Trackwise raised £7.0mln from the IPO, with £5.5mln in new equity and the balance to the selling shareholders

Trackwise Designs PLC (LON:TWD) notched up a solid premium on its first day of trading after its debut on AIM following an initial public offering (IPO).

The specialist designer of printed circuit boards saw its shares changing hands at 116.5p each in early afternoon trading, having been priced at 105p in the IPO, which gave the firm a market capitalisation of £15.5mln.

READ: Trackwise Designs' market cap seen at £15.5mln when trading starts on AIM

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

Trackwise saw new shareholders taking part in the IPO, including 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.

The group has said the IPO funds will provide it 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.”

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