Tech group eyes listing in London

The Swedish technology group EU Supply will this week reveal plans to float on the London Stock Exchange.

The group provides software to public-sector organisations across Europe, including the National Health Service and councils in Camden and Brighton and Hove.

It is hoping to raise £5m on London’s junior AIM market to hire new sales staff ahead of the introduction of new EU rules next year. These will force public bodies to publish all their tender notifications on platforms like those produced by EU Supply.

Although it is headquartered in Sweden, 36 per cent of the company’s sales come from the UK, its largest market.

It made revenues of £1.6m last year and was recently awarded a contract to supply the Norwegian government, worth about £2.8m.

EU Supply is just one of several companies planning to list in London over the next few weeks on both AIM and the main market.

Experts believe this trend will continue well into next year despite continued economic uncertainty.