Shares in oil field service company Tekmar will start trading on the alternative investment market in London next week.
Tekmar, which supplies protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services, said the sale of 47.5million shares would raise about £61.8 million.
Dealings in the shares should start on June 20.
Tekmar will have a market capitalisation of £65m.
The Shares will trade under the ticker TGP.
Tekmar chief executive James Ritchie said: “Being a quoted company will, we believe, allow us to execute our strategy, to become the partner of choice for the supply of subsea protection equipment to the global offshore energy markets, whilst retaining our independence with customers and suppliers.
“Importantly, our strengthened balance sheet post admission to trading on AIM will allow us to invest more readily in the Group’s expansion going forward.
“We also believe that admission to AIM will enhance our profile and brand recognition amongst potential clients and assist in the recruitment, retention and incentivisation of senior management and employees at all levels.”
Recommended for you
