VEHICLE tracking supplier Quartix has announced its proposed floatation on London’s AIM market, with shares expected to start trading on November 6th.
The Initial Public Offering (IPO) comes at a time of continued growth for Quartix, as it cements its position as one of the UK’s top suppliers of telematics systems for business fleets and insurers, and extends its international footprint in the US and France.
The total market capitalisation of the company upon admission to trading on the Alternative Investment Market is expected to be £54.1 million.
Andy Walters, managing director and co-founder of Quartix, said: “Admission to AIM is an exciting milestone for Quartix and will provide us with an enhanced platform from which to build on the momentum we have achieved over the past few years.
“We plan to take advantage of the anticipated growth in both the commercial fleet and telematics-based insurance markets.
“In particular, we look forward to delivering on our strategy to extend our technology, low cost sales and subscription model to grow our presence in the UK, France and the US.”