Trackwise Designs to float on AIM with global growth hopes
By Duncan Ferris
Date: Wednesday 25 Jul 2018
(Sharecast News) - Printed circuit board technology product provider Trackwise Designs has confirmed its intention to seek admission of its ordinary shares to trading on London's junior market.
Both profitable and cash generative, the Tewkesbury-based company operates a radio frequency division and an improved harness technology (IHT) division, with the company's directors optimistic that the former will benefit from the continuing adoption of mobile technology with a future roll out of 5G products.
Dealings in Trackwise shares are anticipated to begin on 31 July, with the company intending to raise £7m through the placing.
They hope an AIM admission will increase its corporate profile, while new funds are being raised to help boost capital expenditure and further product development, and invest in its global sales programme.
Meanwhile, the IHT division is focused on the manufacture of unlimited length multilayer printed circuits and is fully patented in the UK, US and China.
The division's customers include players from the aerospace and automotive sectors.
Chief executive Philip Johnston said the AIM admission "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".
"In particular, becoming an AIM listed public company will provide an appropriate structure for the long-term development of the business and enable us to strengthen our team in order to sell our products on a much larger scale."
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