Car parts manufacturer TI Fluid Systems Limited has revived plans to list its shares, a year after it shelved its original plans because of the uncertainty caused by Brexit.
The Oxford-based firm said today it is looking to raise around €425mln from floating at least a quarter of its shares, giving it an implied market value of around €1.7bn.
That would represent a fall from the €2bn or so private equity group Bain Capital shelled out for the company back in 2015.
This time last year TI – which makes fluid carrying and delivery systems for cars – cancelled its initial public offering plans, when it had been expected to raise around €600mln.
The change of heart is the latest sign that companies are sensing a little more optimism from the markets.
Scottish housebuilder Springfield Properties is expected to start trading on AIM later this month, as is Alpha Financial Markets Consulting PLC – which expects to raise around £125mln from the listing.
They continue the recent hot streak which has seen several companies join the junior market.
Business-to-business app management firm appScatter Group PLC (LON:APPS) raised £9mln when it floated last month, while biotech Destiny Pharma plc (LON:DEST) raised £15.3mln when it listed on around the same time.
There have been a couple of biggies recently as well. Kettle controls maker Strix Group PLC (LON:KETL) raised a hefty £190mln when it joined the junior market in August, while investment group Warehouse REIT PLC convinced investors to part with £150mln at the end of August.