IdaTech announced the details of its proposed initial public share offer ahead of its plans to list on London’s Alternative Investment Market (AIM). The fuel cell firm said the price range for the IPO would be 110 to 135 pence per share, with up to 30.3 million shares expected to be made available.
Market capitalization will be €78.4 million, according to IdaTech, which translates as 122.5 pence per share – or the midpoint of the range. IdaTech is hoping to generate funds through the listing and joins a number of other fuel cell firms on AIM.
IdaTech specializes in fuel processors and integrated proton exchange membrane systems. The company’s applications are often used as critical back-up power sources. IdaTech revealed last month the details of an agreement with international power protections solutions provider Chloride Group along these lines.
