LifeSafe Holdings PLC (AIM:LIFS) made a steady start to its first day on AIM, trading at around 77p compared to a placing price beforehand of 75p.
The fire extinguisher maker raised £3mln to expand and will use the AIM listing "to build and drive momentum" and to invest more in digital marketing, chief executive Neil Smith told Proactive ahead of the float.
LifeSafe has developed what it believes to be market-disrupting, eco-friendly fire safety protection products to both protect (via fire extinguishers) and detect (via carbon monoxide, smoke and heat alarms) fires.
“At the centre of the group's product range is the FER1000 extinguishing fluid, for which the group has received a notice of intention to grant a patent in the UK," it said..
The group's best-selling product using this extinguishing fluid is the StaySafe 5-in-1 fire extinguisher.
Within a month of its launch, its first product was the "number one best selling fire extinguisher on Amazon... and we still are today", Smith said.