LONDON (ShareCast) - Nanomaterial developer Nanoco has revealed it intends to raise £20m by joining the main market of the London Stock Exchange.
The AIM-listed company said the additional funds would be invested in further research and development of its CFQD quantum dot technology, adding it had placed 19m shares priced at 105p each to new and existing shareholders.

The Manchester-based company said that, as part of the move to the main market, it would cancel trading of its shares on AIM.

"The official list is the most appropriate platform for the continued growth of the group by increasing Nanoco's profile, assisting in the liquidity of the company's shares and providing a greater range of potential investors for the company," the group said in a statement on Tuesday.

Nanoco shares were down 11.48% to 122.82p at 12:42 on Tuesday.

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