It’s all systems go for island based kettle safety control giant Strix to list on the junior market of the London Stock Exchange.

The Ronaldsway headquartered business has 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.

And trading on the AIM Market of the London Stock Exchange is expected to start nextTuesday (August 8) at 8am.

Our sister paper the Manx Independent firstrevealed last week that the company, established in 1982, and taken to worldwide prominence by entrepreneur Eddie Davies, also former owner of Bolton Wanderers Football Club, was planning for a listing on AIM.

Seventy one people work for Strix in the island at the Ronaldsway industrial estate headquarters and at a manufacturing operation in Ramsey.

The placing is said to have seen strong demand from a range of institutional investors.

The ordinary shares will trade under the ticker "KETL" and the ISIN number is: IM00BF0FMG91.

Zeus Capital is acting as nominated adviser and sole broker to the company.

Strix Group PLC chief executive officer Mark Bartlett said: ’I am delighted to announce that our initial public offering has been successful.

We look forward to joining AIM on August 8 and I would like to welcome our new shareholders to the company.

’The placing and admission to AIM will position the company appropriately for the next stage of its development, in particular enabling us to invest in our new product development capabilities to the benefit of our valued customers.

’We look forward to being a public company and further growth across our business in existing and new markets.’