Time To Act hopes to raise up to GBP1 million from listing on AQSE

(Alliance News) - Time To Act PLC on Tuesday said it plans to take the plunge into public ...

Alliance News 7 May, 2024 | 12:40PM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Time To Act PLC on Tuesday said it plans to take the plunge into public markets, floating on the Aquis Stock Exchange.

The Middlesbrough, England-based engineering firm operates in what it calls the energy transition supply chain. It has two main businesses, Diffusion Alloys, which provides metal coating technology and services, and GreenSpur, which provides electricity generator technology. The company was formed in 2011 as GreenSpur Renewable Ltd and was renamed after the acquisition of Diffusion Alloys Holdings Ltd in 2019.

Time To Act said it is revenue generating and was profitable in financial 2023. It had GBP1.9 million cash in the bank on March 31, but it hopes to raise up to GBP1 million in new money "to de-risk growth and in support of its strategy of coupling organic growth and acquisition".

The initial public offering will be led by Novum Securities Ltd as corporate adviser and Oberon Capital as broker. The IPO will include a retail offering via the Winterflood Retail Access Platform.

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures