COMELEON plc has published its prospectus for admission to the Alternative Investment Market of the London Stock Exchange.
Comeleon, based in Tanfield Lea, near Stanley, County Durham, is an imaging technology company targeting the rapidly developing global market for personalisation through customisation of mass-produced consumer electronic goods.
The company has already raised £9.4m from an institutional and private client placing.
The market capitalisation at the placing price will be £20.9m.
The proceeds of the placing will be used by the company for working capital and investment in infrastructure, enabling the technology to be utilised globally either through licensing opportunities or strategic alliances.
It is believed the flotation will lead to the creation of around 350 jobs within three years. The company also has plans to move into new 40,000sq ft premises at Tanfield Lea.
The float price of the shares will be 165p
Roy Stanley, chief executive of Comeleon, said: "We are delighted that we have secured the funding to accelerate our expansion within this exciting market.
"The response from potential investors to this fund raising has been extremely encouraging and I believe that we are now well placed to exploit the opportunities that are becoming available to us."
Comeleon has unique method of applying high quality digital images or designs onto three dimensional objects manufactured out of materials such as plastics, glass or metal. The method is known as the e-comeleon process.
As a first step to drive volume production the focus will be on satisfying existing demand for complex designs of mobile phone covers such as Nokia's "x-press on".
This will be quickly followed by approaching other companies which have launched new products with interchangeable faceplates.
These include PDAs, laptop computers, pagers, other mobile phone companies and game consoles.
Brewin Dolphin, which owns North-East stockbroker Wise Speke, has been appointed as an adviser.
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