Israeli mobile-messaging technology specialist Adamind is looking to raise up to £15 million ahead of a mid-February AIM flotation.
Israeli mobile-messaging technology specialist Adamind is looking to raise up to £15 million ahead of a mid-February AIM flotation.
Communication technology group Emblaze Systems and electronics giant Philips, which first established the business as a joint venture, are bringing the company – a developer of multimedia-data and -service access systems – to market. Their goal is to secure a higher profile for the group and an 18 February launch date has been pencilled in.
Bridgewell Corporate Finance is acting as both broker and nominated adviser to the float, with Adamind expected to command a market valuation in the region of £35 million on arrival.
In many respects, Adamind’s proposed market launch mirrors that of interactive television technology developer Orca Interactive back in October. Advised by Altium Capital, Orca was also spun-out from Emblaze, raised £14 million ahead of its flotation and was valued at £35 million when trading in the shares began.
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