Fluorotechnics to list on ASX

Sydney-based Fluorotechnics is going public and will soon be listed on the ASX.

The company, which produces and sells consumables in the life science tools market, will put forward its initial public offering on September 10, closing on October 10.

Shares will be available at $1 each with a minimum subscription of six million ordinary shares.

If all shares a subscribed, the company hopes to float with a market capitalisation of $26 to $28 million.

Management and directors will own almost half the issued shares, and company founders Macquarie University will remain a shareholder.

Fluorotechnics has assembled an experienced board which includes former Coles Group CEO John Fletcher and David Weber, a former division president at GE Healthcare.

The company plans to bring 20 new products to market in the next three years, and has the advantage of not requiring FDA approval to sell its consumables.

The company manufactures fluorescent compounds and fluorescence-based kits for the biotechnology and life sciences industry and has a global reach, with distributors including Wako in Japan and InterChim in France.

Last year it acquired German company ETC to move into the electrophoresis gels and buffers market.