Shares of South Yorkshire-based software company IntelliAM rose more than 10% on their debut on the Aquis Stock Exchange Growth Market on Wednesday. 

Its shares last traded at 104p, well above the initial public offering price of 94p, giving the company a market cap of more than £17 million. 

IntelliAM, based in Sheffield, uses artificial intelligence models to help increase the efficiency of manufacturers’ assets by harnessing data from their machines and operational systems to produce insights on productivity, reliability and supply-chain optimisation, as well as energy efficiency and sustainability.

Tom Clayton, Chief Executive Officer of IntelliAM, said: “We are delighted to be joining the AQSE Growth Market at a time when we have combined our established manufacturing asset management consultancy with our more recently developed and launched IntelliAM AI platform. We believe that this platform has immense and proven potential to reduce unscheduled manufacturing downtime, improve producer operating efficiencies and thereby increase our clients’ profitability.” 

On Thursday 4 July, the Company is set to complete the acquisition of 53 North and issue a further 2.76 million shares for its purchase.