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Imperial to float commercialisation arm on AIM
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24/07/2006
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Imperial Innovations Group, the technology commercialisation company that is majority-owned by Imperial College London, intends to float on the Stock Exchange.
The company intends to list its ordinary shares on AIM at 365 pence per ordinary share. At that price, Imperial College's shareholding will be worth over £100 million.
At the same time, the company has raised £25 million from an institutional placing. It expects to raise a further £1.5 million from the flotation – the first by a majority, university-owned technology transfer company in the UK.
Imperial Innovations was established by Imperial College in 1986, with the aim of realising the commercial potential of its research. The company has the right, with certain exceptions, to commercialise the intellectual property developed within Imperial College’s research departments until 2020.
“The flotation will provide Imperial Innovations with the capital to go on to develop its business further and that in turn will feed back into developing the College's intellectual property," said Sir Richard Sykes, rector of Imperial College.
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Author
Lou Reade
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