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UK green VEHICLE stocks
M.T.Glass - Thu, 21 Dec 06 :
Hybrid engine technology business Traction Technology arrived on AIM Thursday having raised £840,000 from a placing of over 3m shares at 28p each.
It bagged over £½m from a subscription of 1.96m shares and just shy of £300,000 from existing and other private shareholders, valuing the company at £9.33m on admission.
The shares began trading at 32p each, a 14% premium to the placing price.
Traction is an environmentally friendly transport system company specialising in the supply of hybrid vehicle systems for the inner city public transport sector.
It said small scale trials with Epsom Coaches, who operate vehicles on behalf of Transport for London, have confirmed improvements in miles per gallon and emissions reductions can be achieved using Traction’s hybrid products.
Non-executive chairman Nick Brayshaw is former boss of motor components firm Wagon and is currently chairman of AIM-Listed Stadium Group and of the CBI National Manufacturing Council.
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Anyone fancy setting up a thread for it? Ticker is TRAC
Doesn't appeal to me.
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