Tech materials firm Versarien to raise funds in £12m listing

LONDON’S stuttering flotation market is set to get its latest boost today when a firm that specialises in making materials for computer processors announces its intention to tap the markets.

Versarien will today outline plans to float 25 per cent of the Gloucestershire firm, raising £3m on London’s junior market, Aim.

The news is a rare sign of movement in what has been a subdued atmosphere for floats among technology companies, although Versarien boss Neill Ricketts told City A.M. that the market is showing signs of life.

“There’s been a definite pick up in the last couple of months – people are a lot more optimistic than in the last couple of years,” Ricketts said.

Versarien, whose patented materials are used to cool computers, says it plans to float later this month.