Intuitive Investments to seek initial public offering on AIM

Intuitive Investments Group is pursuing a flotation on the London Stock Exchange's AIM market to raise funds for its international expansion.

The closed-end investment firm focused on the life sciences sector is looking to raise gross proceeds of £7.5m via the conditional placing of 37.5m shares at 20.0p apiece.

Its stated intention is to funnel the proceeds of the initial public offering into investments in the fast-growing and high-potential businesses within its sector.

In particular, it will focus on diagnostics and healthcare, medical devices, tools and technologies and bio-therapeutics and pharmaceuticals, with admission to trading expected to take place on 14 December.

Geographically, its investments will be chosen from an identified pipeline of investment opportunities centring on the UK, wider Europe and US.

Market capitalisation on the date of admission was seen at roughly £7.8m.

Strand Hanson Limited had been chosen to act as nominated adviser and Turner Pope Investments as broker and sole bookrunner.