HaloSource, a US-based company for water purification, has raised $80m in its UK flotation.
The company issued $50m of new shares at its London Stock Exchange initial public offering and existing shareholders sold $30m of stock. The company’s shares are expected to start trading on October 18 at 135p each to give a market capitalisation of £100m ($158m).
In January, HaloSource raised $10m from international investors, including Prime Partners Asia Merchant Capital of Singapore.
Since 2007 and before the IPO, the company raised a reported $52m in venture funding from Dubai-state-backed Masdar Clean Tech Fund, consumer group Unilever’s corporate venturing unit Technology Ventures, London-listed private equity firm Origo Partners and chocolate company Mars.
Origo said it would sell 60% of its 15.4% stake, worth $11m, in the IPO.