London Stock Exchange welcomes Tan Delta Systems plc, representing the Company’s next phase as a market leading, real-time equipment monitoring and data analytics business
Tan Delta Systems plc (“Tan Delta”) is delighted to announce its Initial Public Offering (“IPO”) and admission to AIM, raising £6 million of EIS/VCT qualifying shares, achieving a market capitalisation of £19 million. The oversubscribed primary raise, led by Zeus as Nominated Adviser and Sole Broker, attracted strong support from high quality institutional shareholders.
Tan Delta provides equipment monitoring technologies and solutions that use real time oil analysis to enable material reductions in maintenance costs, improve reliability and reduce carbon footprint. Tan Delta currently supplies a growing customer base of blue-chip multinationals and equipment operators.
Chris Greenwood (CEO):
“An incredibly proud moment for me, not only in achieving a successful flotation but having the exciting opportunity to now drive the business through its next phase of accelerated growth. None of this would have been possible without the hard work and dedication from all of the Tan Delta team and the continuing support given to us by our early investors. Innovation continues to be alive and kicking in the UK and I hope that we can be seen as an example to budding entrepreneurs as to what can be achieved. A huge thank you to Zeus for their efforts in securing a great deal for the business and for the new investors, without their relentless efforts we would not have successfully navigated the whole IPO process. At all times Zeus remained extremely positive, guiding us throughout this journey with expertise, professionalism, and good humour. I am very much looking forward to continuing to work and grow our relationship with Zeus in the future.”
