Applied Graphene Materials makes stock market debut
20th November 2013
APPLIED Graphene Materials plc has raised £11m with its debut on the stock market today (Weds).
The company has floated on the Alternative Investment Market (AIM) with the help of advisers N+1 Singer Advisory LLP, Ward Hadaway and KPMG LLP.
Applied Graphene Materials plc has developed a process of manufacturing high quality graphene nanoplatelets, owning the know-how and intellectual property behind the process.
Graphene has attracted worldwide attention for its high performance electrical, thermal and mechanical properties.
Applied Graphene Materials’ commercial strategy is to be a value-added supplier of graphene-based specialty chemical products to partners who are manufacturing products incorporating graphene, rather than just being a commodity producer of graphene.
The company is planning to use the proceeds of the flotation to fund growth through investment in headcount, infrastructure and increased production capacity at its site at Wilton on Teesside, as well as for collaboration projects.
Applied Graphene Materials was founded by Dr Karl Coleman, professor of inorganic chemistry at Durham University, with its operations and processes based on technology that he initially developed at Durham University.
The company’s flotation – at an initial price of 155p per share – has raised £11m for Applied Graphene Materials plc before expenses.
Bryan Dobson, Chairman of Applied Graphene Materials plc, said: “We are delighted with the investor response to the Placing which recognises Applied Graphene Materials’ proprietary, scalable manufacturing process and its associated intellectual property and know-how. Joining AIM marks a significant milestone for the Group.”
Jon Mabbitt, Chief Executive Officer of Applied Graphene Materials plc, said: “This funding will allow us to begin the next phase of development and to strengthen relationships with our partners. Applied Graphene Materials is now well positioned to meet the growing global appetite for graphene as a wonder material of the 21st Century.”
N+1 Singer Advisory LLP acted as Nominated Adviser and Broker to Applied Graphene Materials.
Law firm Ward Hadaway provided legal advice to Applied Graphene Materials on its AIM flotation.
Partner and Head of Corporate Martin Hulls led the firm’s team, with support from Associate James Nightingale and Consultant Emma Sewell.
Members of Ward Hadaway’s employment law and commercial teams also worked on the flotation.
Martin said: “We are absolutely delighted to see the successful flotation of Applied Graphene Materials plc.
“The company is truly leading the way when it comes to the commercial application of this exciting new material and it is fantastic to see businesses like this grow and thrive in the North East.
“As a firm, we have advised on many AIM flotations, as well as on various other public fund-raisings, so we were able to bring all that experience to bear when it came to the initial public offering for Applied Graphene Materials plc.
“We wish the team there all the very best for what promises to be an exciting future for the business.”
The Newcastle office of KPMG LLP provided financial advice to Applied Graphene Materials on the flotation.
Chris Stott, Partner at KPMG LLP, said: “The level of interest from investors in the business was very encouraging and should certainly provide some comfort that the IPO market is very much open for good management teams with robust business plans.”
The flotation has since gone on to be named Deal of the Month by the Insider Series.