Financial Times: Dual float for Questair: “Its biggest shareholder after the flotation will be Shell Hydrogen, which is concerned with the commercialisation of hydrogen as a fuel.” (ShellNews.net) 21 Dec 04
By David Blackwell
Published: December 21 2004
Questair Technologies, a specialist in gas purification systems, is to float on Aim and the Toronto stock exchange today with a market capitalisation of £28m.
Originally spun out of the University of British Columbia in Vancouver, the company has developed a gas purification technology up to 50 times smaller than existing systems.
It has focused on the purification of hydrogen, which gives it a strong customer base in existing industries such as oil refining and steelmaking.
Its biggest shareholder after the flotation will be Shell Hydrogen, which is concerned with the commercialisation of hydrogen as a fuel.
The company has opted for a dual listing to reflect its global customer base and to benefit from the interest of sustainable technology and small company funds in Aim stocks.
Advised by Canaccord in the UK and CIBC World Markets in Toronto, it has raised £6.4m gross through a placing of new shares. David Blackwell