AOTI Raises £35.1M in London Stock Exchange Debut
American health technology company AOTI has chosen to list on the London Stock Exchange's Alternative Investment Market (Aim), raising £35.1 million. The company's shares rose by almost 4% in early trading during its debut at 137p.
AOTI supplies medical technology for chronic conditions, focusing on wound healing using topical oxygen therapy. The company is based in the US but opted for the UK market, with Ben Yearsley of Fairview Investing suggesting this could be due to the UK's focus on medtech and potential future buyers. Jason Hollands of Bestinvest also noted that a crowded US stock market and flexible rules on Aim may have influenced the decision.
AOTI's Initial Public Offering (IPO) is the largest on Aim since 2021, giving the company a market capitalisation of £140 million. The company joins other technology stocks listed on the UK market, such as Sage, Rightmove, and Experian. Nick Train, a UK equity fund manager, recently gained exposure to Rightmove and Experian to boost UK technology exposure.
AOTI's successful listing on Aim marks a significant milestone for the company and the UK's technology sector. The company's focus on wound care technology and its strong debut on the stock market indicate promising prospects for both AOTI and potential investors. As more companies like AOTI, Raspberry Pi, and Shein consider London listings, the UK's tech market continues to grow and diversify.
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