Pure Wafer to sell subsidiary and cancel AIM listing

Silicon wafer reclaim services provider Pure Wafer has reached a deal to sell its operating subsidiary and has unveiled plans to cancel its AIM listing.

The London-listed company will sell its Pure Wafer business for $16m (£10.6m) to an unspecified buyer, meaning it will be classified as an investing company under AIM regulations.

However, Pure Wafer, which opted against reinstate the Swansea facility that was badly damaged by a fire in December last year, added it intends to liquidate itself, after which its AIM listing will be cancelled.

Pure Wafer shares were down 3.47% to 167.00p at 1551 GMT on Tuesday.