Strix Group Plc, the designer, manufacturer and supplier of kettle safety controls and other complementary water temperature management components, is pleased to announce the successful pricing of its initial public offering (the “IPO”) and the placing (the “Placing”) of 190 million ordinary shares at 100 pence per share (the “Placing Price”) to raise £190 million. Trading on the AIM Market of the London Stock Exchange will commence on 8 August 2017 (“Admission”).
Highlights
· The Placing has raised £190 million via the placing of 190 million new ordinary shares at a placing price of 100 pence per share.
· The Company’s market capitalisation on Admission, based on the Placing Price, is expected to be £190 million.
· The Placing saw strong demand from a range of institutional investors.
· It is expected that dealings will commence on AIM at 8.00am on 8 August 2017. The ordinary shares will trade under the ticker “KETL” and the ISIN number is: IM00BF0FMG91.
Zeus Capital is acting as Nominated Adviser and Sole Broker to the Company.
Mark Bartlett, CEO of Strix Group Plc, commented:
I am delighted to announce that our initial public offering has been successful. We look forward to joining AIM on the 8th August and I would like to welcome our new shareholders to the Company.
The Placing and Admission to AIM will position the Company appropriately for the next stage of its development, in particular enabling us to invest in our new product development capabilities to the benefit of our valued customers. We look forward to being a public company and further growth across our business in existing and new markets.
