A week on Thursday, watch for first AIM dealings in Banbury-based Westminster Group, which is being brought to market by broker J M Finn. This established international fire, safety, security and defence specialist is chaired by Sir Malcolm Ross and run by chief executive Peter Fowler.

A week on Thursday, watch for first AIM dealings in Banbury-based Westminster Group, which is being brought to market by broker J M Finn. This established international fire, safety, security and defence specialist is chaired by Sir Malcolm Ross and run by chief executive Peter Fowler.

It presently operates in a booming sector, with a recent Organisation for Economic Co-Operation Development (OECD) report stating the industry is emerging ‘as a big player in the economy and expanding’. Market watchers eagerly await the issue, although pricing details are yet to be revealed.

US AIM advance continues

Florida-based medical devices company AOI Medical has flagged up its proposed AIM flotation and placing, becoming the latest US firm to select London over New York as its preferred IPO destination. The group, which specialises in the development of orthopaedic medical devices for the spine and trauma markets, is looking to prise £8 million from institutions, giving the business a pre-new money valuation of £21 million.

Another proposed newcomer from across the pond is wind energy developer Boreal Energy, set up in 2004 to sate demand in America for wind power. The market is looking for the company to debut on AIM with a sizeable £100 million market valuation, with the company then using AIM to assist its evolution into a leading owner, operator, developer and vendor of wind energy in the American market.

Vestpa vies for deals

Another Tuesday debutante was Vestpa, a newly formed company that came to market with a strongly supported £3 million funding handled by broker Blue Oar Securities. The funding will help Vestpa finance its as yet, rather sketchy brief of acquiring assets in Europe, North America or Asia across an array of target sectors including investment, consumer goods, engineering, media, technology and telecommunications and leisure and hotels.

The interest from an investor point of view lies in the management team, led by executive director John McLean, a founding member of IPO investment group Albany, and non-executive director James Cane, formerly a non-executive at the Lambeth Building society until its merger with Portman.