Timico planning £55m stock float

Business communications provider Timico, whose clients include Travis Perkins, Mitsubishi Motors and Informa, today announced plans to raise £15m through a public listing on London’s Alternative Investment Market on 30 May. The company said it expects to reach a market valuation of around £55m following the float with funds raised from the float used to acquire smaller IT service providers and to upgrade and expand its data centre capacity.