ATM:ad firm i-design to float on AIM
16 July 2007 | 4563 views | 0
UK ATM advertising agency i-design is planning to raise around £3.5 million by floating its shares on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE) on Friday.
Scotland-based i-design says its market capitalisation is expected to be approximately £9.5 million when if floats this week.
Founded in 1991 i-design provides advertising software, called ATM:ad, to owners of ATM networks, such as retail banks including Nationwide Building Society and HSBC.
I-Design says its ATM:ad system is currently installed on over 2100 ATMs in the UK. The technology allows ATM operators to deliver targeted marketing campaigns and third party advertising across their ATM networks.
The company has also secured and managed ATM advertising campaigns with advertisers including British Airways, easyjet, Orange, Vodafone, Camelot, Kwik-Fit, Nivea, New Look, Orion and the Central Office of Information.
The company says it plans to use the funds raised in the floatation to expand its London-based sales and operations team and to drive sales of its technology in the UK and new territories including, Greece, Ireland, Germany, Spain, the Benelux countries and the US.
Commenting on the floatation, Ana Stewart, founder and chief executive, i-design, says: "This is an exciting period of growth for us as we seek to expand our sales both in the UK and abroad, and we believe that admission to AIM will enhance our status within our marketplace and provide us with a strong foundation for growth."