31st Mar 2014 11:34
LONDON (Alliance News) - Ticketing systems company Galasys PLC and energy control company PassivSystems Group PLC added themselves to the growing AIM initial public offering pipeline Monday, as trading in John Laing Environmental Assets Group Ltd shares got underway on London's main market.
John Laing Environmental shares were trading at 100 pence a share early Monday, after 160 million shares were admitted to the main market at that price. The money is being used to acquire an initial portfolio from John Laing PLC made up of a solar project, three onshore wind farms, two waste processing projects and a waste water treatment project.
Galasys provides ticketing systems for the theme park industry in Asia, and has over 60 installed sites in China and Malaysia. It is looking to raise about GBP7 million in a listing on AIM, money it will use to accelerate plans to expand in the market.
Its after-tax profit was about GBP1.3 million in 2013, and more than 60% of its revenues were repeat sales from existing customers.
PassivSystems, meanwhile, provides energy services for residential homes and optimises solar PV assets. It is hoping to IPO on AIM in April.
The company's software platform connects homes and heating equipment to a central platform, meaning householders can control and optimise heating and hot water use by using their smartphones, tablets or any device connected to the internet. It has about 5,000 systems installed.
"At a time when the UK consumer is under an ever increasing financial strain with respect to energy costs, the group recognises that there is an opportunity in the home energy and appliance control market for the right combination of hardware and software as a service to deliver savings for consumers," it said in a statement.
By Steve McGrath; [email protected]; @stevemcgrath1
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