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Promethean aims for top of class

Promethean, the UK-based maker of interactive whiteboards, is planning an initial public offering valuing it at £400m-£500m. A £400m IPO would value Promethean, founded by Tony Cann, at 18 times last year’s earnings before interest, tax, depreciation and amortisation of £22m. But its profits rose 60 per cent from the previous year. The firm is chaired by Graham Howe, one of the founders of mobile firm Orange.