OCZ Technology group, a well-known maker of memory modules for enthusiasts, have become a public company with shares sold at alternative investment market (AIM) of London Stock Exchange. The company plans to raise additional funds in order to increase its manufacturing capabilities and eventually grab additional market share.
OCZ is currently listed in the New Issues List, a list of all new companies which are either seeking admission to one of our markets or have been admitted to trading within the most-recent seven days. Unfortunately, there are no details concerning the actual prices of shares, however, it is known that current owners of the company - Ryan Petersen and Arthur Armagast – will still control over 70% of OCZ after the initial public offering (IPO)
Earlier this year sources close to the company confirmed that the initial public offering (IPO) is expected to be about $18 million and the post IPO capitalization is projected to be approximately $71 million. One of the sources said that the offering should take place in the following several weeks and added that “the money from the IPO will allow be more aggressive in the market”. According to some reports, OCZ’s first-quarter revenues, historically the weakest quarter of the year, jumped 110% compared with the same period in 2004, whereas 2005 revenues were up 77% annually.
AIM is specifically tailored to growing businesses and combines the benefits of a public quotation with a flexible regulatory approach. AIM gives companies from all countries and sectors access to the market at an earlier stage of their development, allowing them to experience life as a public company. Since AIM opened in 1995, more than 2200 companies have been admitted and more than ?24 billion has been raised collectively.