Online motorcycle company BikeNet said it would be valued at 15m when it floats on the stock exchange this week, writes David Duffy.
The group, which was founded five years ago to provide information to motorcycle enthusiasts, will see its shares valued at 1.33p each when trading starts on August 25.
The flotation will allow the group to raise 3m to create a higher profile and to boost its position in Europe.
Garry Cuthbertson, chief executive, said: I am delighted with the response from investors as the flotation marks an important step in further establishing the BikeNet brand.
The proceeds of the placing will not only provide us with vital working capital, but it will also consolidate our position as the leading European affinity site for motorcycle enthusiasts.
BikeNet, which is based in Leeds and employs 12 people, said in its first full month of operation, without any advertising it sold more than 50 new motorcycles.
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