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Polarean Imaging plans London IPO

Polarean Imaging Plc, a medical technology company, plans to list its shares on the London Stock Exchange's AIM market.

The company aims to raise £3 million in gross proceeds through a conditional placing via its nominated adviser and broker, Northland Capital Partners Ltd., and a conditional subscription.

Admission will begin on or around March 29 at 8 a.m. London time. The company's shares will trade under the ticker POLX.

Polarean is anticipated to have a market capitalization on admission of at least £11 million.

The company and its Durham, N.C.-based unit, Polarean Imaging Ltd., make equipment for use in the high-resolution medical imaging market.