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     Idatech plans to float on LSE
Publication Date:29-May-2007
07:00 AM US Eastern Timezone 
Source:AFX News
LONDON -- US-based advanced fuel cell applications company Idatech said it plans to float on the London Stock Exchange, following a share placement to investors in the UK and certain other European countries.

Terms of the placement were not disclosed.

The company said the offer is expected to be completed by early July and the proceeds will be used to increase research and development and to expand manufacturing capabilities, sales and marketing functions.

Investec, which acquired the business in 2006, will retain a significant shareholding in IdaTech following the offer, it said.

 

 
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