The island’s Lieutenant Governor Sir Richard Gozney was at the London Stock Exchange this morning for the launch of Strix trading on the AIM market.
Strix, based at Ronaldsway and with a manufacturing operation at Ramsey, is a global leader in kettle safety control,
Sir Richard was joined at the 8am launch by representatives of Strix including some from the island and from China.
Mark Bartlett,CEO, said: ’Today marks a key milestone in the company’s successful and long history.
’Admission to AIM will support us through our next phase of growth as we look to penetrate new markets.’
Mr Bartlett told Isle of Man Newspapers the move strengthens the island as the base for the global company and ’almost certainly’ will lead to more people being taken on as the firm grows.
Some 71 people currently work for Strix in the island.
The Ronaldsway headquartered business announced the successful pricing of its initial public offering and the placing of 190 million ordinary shares at 100 pence per share to raise £190 million.
By lunchtime today (Tuesday) the Strix shares were showing at around 136 pence.
Strix has an impressive number of customers including Tesco, Tefal, Siemens and Philips.
It is estimated the company has a market share in excess of 38 per cent by volume of the global kettle safety control market.
Strix has a proud history and Dr John Taylor founded the company which holds several Queen’s Awards.