Haydale to raise $16 million via London IPO
Haydale (based in the UK and owned by ICL from May 2011) plans to raise £10 million (about $16.6 million) via an IPO on the UK’s AIM. Besides funding the company’s regular operations (based around its proprietary plasma technology and graphene commercialization process), the money could also be used for acquisition purposes or to form strategic alliances. The market value of the company will probably be in the low £30 million range ($50 million).
Haydale hopes that the IPO will take place in mid-April. If Haydale’s plans go through, this will be the third graphene company to list in the UK. First up was Cientifica (which recently failed to raise more funds) andApplied Graphene Materials. Another AIM company, Graphene NanoChem is also involved with graphene.
Haydale is developing and marketing carbon materials under the HDPlas brand. The company currently focuses on graphene, CNTs and zinc nanomaterials. The company also developed metal-free graphene-based inks.