An American company specializing in woundcare technology is preparing for a London stock market debut next month, signaling a tentative recovery for the city as a venue for multinational listings. According to sources, AOTI, or Advanced Oxygen Therapy Inc, is in the process of finalizing plans for an initial public offering (IPO) in London, with expectations to raise approximately $50 million (£39.5 million). The company is expected to formally announce its plans in the first half of June.
If successful, AOTI’s IPO on the junior AIM market is expected to value the company at around £160 million. Headquartered in California, AOTI boasts a medical technology that has been credited with reducing the need for amputations in patients by more than two-thirds.
While not a large offering, AOTI’s flotation would provide a significant boost to the London listings market. This week, Raspberry Pi, a manufacturer of affordable personal computers, confirmed its plans for a £500 million IPO in the UK. Both the Raspberry Pi and AOTI deals are being handled by investment bank Peel Hunt.
However, the most highly anticipated IPO in London is that of Shein, the Chinese-founded online fashion giant. Sources say that Shein is likely to be valued at more than £50 billion upon its public debut. Sky News previously reported that Shein had been in talks with UK Chancellor Jeremy Hunt about its plans to shift its focus from a New York listing to one in London.
When reached for comment, a spokesperson for AOTI declined to confirm or deny the company’s IPO plans.
