Deal alert

Trackwise Designs Plc: AIM admission to drive growth and innovation

Gateley Legal

Trackwise Designs Plc manufactures specialist products using printed circuit technology. The range of potential applications for their products includes telecommunications, aviation, automotive and defence. 

Based in Tewkesbury, this established business consists of two divisions – Radio Frequency and Improved Harness Technology. The Radio Frequency business unit makes specialist printed circuits primarily used in the antenna infrastructure to support 3G/4G and soon to be 5G networks. The company's patented technology is utilised by the Improved Harness Technology unit to manufacture unlimited length multilayer flexible printed circuits. The company exports over 70 per cent of its output, primarily to continental Europe.

In July 2018, we advised Trackwise on its admission to the AIM Market of the London Stock Exchange. On admission, Trackwise, based on a placing price of 105p per placing share, had a market capitalisation of £15.5m, following an oversubscribed £7m fundraising. £5.5m was raised for the company and £1.5m for the selling shareholders. Trackwise will use the IPO funds to support further product development and to invest in its global sales programme. 


Becoming an AIM listed public company will provide an appropriate structure for the long-term development of the business and enable us to strengthen our capability and capacity in order to sell our products on a much larger scale. We were wholly delighted with the support received from the Gateley team.
Philip Johnston, CEO, Trackwise

Our capital markets team guided Trackwise through the IPO process, including legal due diligence, assisting with the AIM admission document and supporting documents and the pre-IPO share capital reorganisation.

Trackwise is the fourth IPO we have advised on since Gateley's own AIM listing in 2015 and our team expect to complete a number of further flotations throughout 2019.


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