Nanoco Group PLC (LON:NANO), the developer of applications incorporating semiconductor nanoparticles, has effectively put itself up for sale.
The shares rose 4% to 15.6p as the company, which saw its share plummet in June from around 36p to 9.5p following a profit warning, confirmed it has entered into preliminary discussions with certain parties about a potential sale of the company.
Nanoco said it remains in active discussions with existing and other potential new customers for its materials and services with a particular focus on the display and infra-red sensing markets.
“In addition to these potentially lucrative commercial opportunities for continued funding of the Company's operations, the board is also reviewing other sources of funding,” Nanoco told investors.
The quantum dot technology company reckons it probably has enough working capital to tide it over while it talks to potential bidders and customers but it contingency plans in place if needed.