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Touch Bionics tight-lipped on £50m market float

Jim Murphy shakes one of the bionic hands built by Touch. Picture: TSPL

Jim Murphy shakes one of the bionic hands built by Touch. Picture: TSPL

  • by DOMINIC JEFF
 

ARTIFICIAL limb maker Touch Bionics looks set to become Scotland’s next listed company amid reports it is planning a £50 million flotation.

The Livingston-based firm, which was spun out from NHS Scotland in 2003, is said to have appointed broker Oriel Securities as an adviser as it seeks to make its stock market debut before the year’s end.

The company’s robotic hand – the i-Limb – is considered to be the world’s most advanced prosthetic limb, and helped Touch grow its sales by 23 per cent last year to £12.3m. The company had been in the red since 2008 but is thought to have returned to profit last year.

A listing would provide a payday for Scotland’s business angel community, as Touch raised £2.5m from the Archangel syndicate and the Scottish Venture Fund in 2011.

A spokesman for Touch declined comment.

 

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