IPO: Lightweight and portable oxygen tank maker to list in London
Belluscura, a medical device developer that focuses on lightweight and portable oxygen technology, will today debut on London’s AIM market.
The company, which was established in the UK in 2015, expects to be worth nearly £51m following admission to the stock exchange.
It has conditionally raised £17.5m via share allocation prior to the placing.
Belluscura’s first product is a lightweight portable oxygen concentrator, a device designed to replace clunky metal oxygen tanks and heavy portable oxygen devices.
The product, which will be launched within the next 12 months, can deliver up to 95 per cent pure oxygen to patients, and will help to improve the quality of life of those suffering with various lung ailments.
Some £3m raised from today’s IPO will be used to launch the product.
The respiratory care devices market is forecast to grow to $5.7bn by 2026, an increase of 66 per cent over the next five years.
CEO Robert Rauker said: “We are pleased to welcome new shareholders and thank them for their support in the company. We are an oxygen enrichment company dedicated to improving the quality of life for those patients requiring supplemental oxygen.
“We believe our patented X-PLO₂R range of small and discreet portable oxygen concentrators, delivering more oxygen by weight than any other device in their class, will be well-received in the large, expanding supplemental oxygen market.”