The placing, sponsored by Morgan Grenfell, involves the issue of 14.5 million shares at 130p each, and will raise about pounds 1.3m for the company.
Linx manufactures electronically controlled machines that operate by forcing ink under pressure to print information on a variety of products. Typically, the technology is used to print 'sell by' dates on food and pharmaceuticals as they are packaged on production lines.
The company was set up in 1986 with about pounds 850,000 equity financing from a group of venture capital investors led by MTI, based in Watford.
From from a taxable loss of almost pounds 500,000 in 1988, it has grown to profits of about pounds 1.65m in the year ended 30 June. Turnover has improved from pounds 152,000 to pounds 10.5m. About 70 per cent of its sales come from exports.
The company is coming to the market to facilitate its expansion into complementary areas. Share dealing begins on 22 October.Reuse content