4th Aug 2023 12:15
(Alliance News) - Tan Delta Systems PLC on Friday said it plans to start trading on London's AIM market in mid-August.
The company did not provide the number of shares or the issue price for its initial public offering, nor did not provide details of the capital to be raised on admission. The details are to be confirmed, it said.
Tan Delta is a Sheffield-based company that has developed a monitoring solution based on real-time oil analysis and analytics, offering equipment operators insight into the maintenance status of their equipment and thus the ability to reduce maintenance costs, improve reliability and reduce carbon footprint.
It offers four main products built around its core oil condition analysis sensor technology, all of which target primarily large commercial and industrial equipment market segments.
The company added that a new sensor product, based on the same core technology, is currently at the concept stage. It is being developed for smaller scale, high volume applications in the light commercial, industrial and automotive segments.
By Heather Rydings, Alliance News senior economics reporter
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