Anthony Best Dynamics eyes stock market flotation

A TECHNOLOGY firm that makes robots for testing out the brakes, steering and suspension of cars on test tracks is mulling an initial public offering (IPO).

Bradford-based Anthony Best Dynamics (ABD), which supplies kit to 17 of the 20 largest car makers, has drafted in Cairn Financial Advisers and Charles Stanley Securities to advise on a potential flotation.

ABD is considering the Alternative Investment Market (Aim) for its listing, which would fund the building of a factory three times larger than its current premises and the opening of a sales office in Asia.

Sign up to our daily newsletter

The i newsletter cut through the noise

The company posted a pre-tax profit of £1.8 million for the year to 31 August on the back of £8.9m in revenues, 90 per cent of which came from exports to Asia, Europe and North America.

News of ABD’s potential float came as One Media IP Group – which owns the rights to 170,000 music tracks and more than 4,000 hours of video – confirmed that it plans to move to Aim from the Icap Securities & Derivatives Exchange, which was previously known as the Plus stock exchange.

One Media sells its songs and videos across a range of outlets, including Amazon, iTunes and YouTube. The firm’s roster includes artists such as Bob Marley, Cliff Richard and Sham 69, along with the distribution rights to classic episodes of the Sooty puppet shows.

One Media aims to raise a further £750,000 during the listing on Aim to take its market capitalisation up to £5.1m.