IN BRIEF: Oxygen-equipment developer Belluscura set for AIM on Friday

Belluscura PLC - medical device developer registered in London but with operating base in Plano, ...

Alliance News 24 May, 2021 | 12:40PM
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Belluscura PLC - medical device developer registered in London but with operating base in Plano, Texas - Says on Monday that initial public offering on AIM has received strong support, with the first day of dealings set for Friday. Raises GBP17.5 million in AIM float before GBP1.4 million in expenses. Prices shares at 45 pence each, giving a market capitalisation of GBP51.0 million on admission. London-based intellectual property investment firm Tekcapital PLC owns just over 15% of Belluscura, which is developing lightweight and portable oxygen enrichment technology.

Belluscura earlier in May said funds raised would be used to improve marketing, research new products and help secure US Food & Drug Administration approvals. Says the technology is potentially useful for recovering Covid-19 patients but also for pneumonia, asthma, emphysema, chronic bronchitis, and other respiratory illnesses.

By Tom Waite; thomaslwaite@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Tekcapital PLC 28.00 GBX -9.68 -

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