Fire safety technology firm LifeSafe Holdings PLC is planning an initial public offering in London, it said on Tuesday, seeking to raise £3 million.
LifeSafe - which manufacturers fire extinguishers and smoke detectors - did not specify how many shares it will offer, or at what price.
Chief Executive Neil Smith said: ‘We are delighted to announce our intention to float on AIM as this represents a new and exciting chapter in the group’s history.
‘We are already making good progress in creating and meeting increasing demand for our life saving products both via our international multi-channel sales strategy which initially targets the consumer market via digital channels and through wholesale and industrial channels.’
The firm was also quiet on its expected market cap on admission, but noted it recorded a pretax loss of £1.5 million in 2021 on revenue of £670,000.
‘The IPO will provide us with the profile, capital and platform to go on to capture more of what the directors believe is a growing market with our innovative fire extinguishing products, whilst delivering significant value for our shareholders,’ Smith added.
From February 2015 until July 2019, Smith was the group chief executive officer of AIM-quoted FireAngel Safety Technology Group PLC. LifeSafe’s Chief Financial Officer Michael Stilwell held the same role at FireAngel from late 2018 to early 2021.
LifeSafe was founded as Firescue UK Ltd in 2015.
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