11th Dec 2025 11:01
(Alliance News) - Power Probe PLC on Thursday started trading on London's AIM market, hailing a "new chapter" which it hopes will aid its growth plans, including the opening of a new US manufacturing facility.
The Charlotte, North Carolina producer of automotive electrical diagnostic tools for professional service technicians said it raised about USD15 million, or GBP11.2 million, through the placing of 13.7 million new shares at 82 pence per share.
The company, founded in 1992, had a market capitalisation of around GBP60 million on admission.
Shares in Power Probe rose 3.0% to 84.5p each on Thursday morning in London.
Power Probe's suite of products is across seven segments: powered circuit probes, testing kits, measuring tools, soldering, lighting, accessories, and private brands.
Chief Executive Officer Chema Garcia said: "Our initial public offering is a major milestone and exciting moment for Power Probe, and we are extremely grateful for the support we've received from investors. Since 1992, we've been growing our business to become a leading developer in the specialised automotive electrical diagnostics market, driven by a relentless focus on innovation and continuously adapting to the rapid evolution of vehicle technology.
"Our admission to AIM marks a new chapter in that journey and will enable us to deliver on our ambitious growth plans, including opening a new state-of-the-art US manufacturing facility, which will increase our overall production capacity and bring us closer to our core end markets."
By Tom Budszus, Alliance News slot editor
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