iPad chemical firm plans to float in London

AZ Electronic Materials is planning to list in London, the Financial Times reports this morning.

The chemical company that provides materials for flat panel displays such as the iPad could be one of the biggest flotations in the City this year.

AZ is owned by private equity groups Carlyle and Vestar Capital Partners, and makes 70 per cent of its revenues in Asia, the base for many techonology manufacturers.

The firm’s finance director is based in London, and the owners hope to tap into a glut of City investors with knowledge of specialty chemicals.

UBS, Goldman Sachs and Deutsche Bank are said to be managing the initial public offering. AZ Electronic could not be reached for comment last night.