Sheffield’s Tan Delta joins London stock market

Sheffield-based “equipment monitoring and data analytics business” Tan Delta announced the admission of its entire share capital to trading on the AIM Market of the London Stock Exchange on Friday.

The company raised gross proceeds of £6 million at a price of 26p per ordinary share.

On admission, Tan Delta will have a market capitalisation of £19 million and have 73,223,800 ordinary shares in issue.

Zeus and PrimaryBid raised a further £600,000 for selling shareholders.

Tan Delta CEO Chris Greenwood said: “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.”