Azets has supported Aurrigo International Plc, an autonomous technology specialist which works with the automotive, aviation and transport industries, on its recent flotation through the provision of technical accounting advisory services.
Headquartered in Coventry, Aurrigo has a 29-year history as a leading international manufacturer and supplier of services to premium automotive OEMs. Last month the company announced its IPO on the Alternative Investment Market (AIM), the London Stock Exchange’s market for smaller growth companies. The move to AIM gives the company a solid platform for growth.
Aurrigo International successfully raised gross proceeds of £8m in total, at a price of 48 pence per ordinary share, valuing the group at £20m.
Professor David Keene, Chief Executive of Aurrigo said, "Achieving our listing and fundraise in these challenging markets is a real testament to the great technology, sound business and talented team we have at Aurrigo. It gives us a solid platform for growth and we are excited about taking the next step on our journey.
"We're now in a great position to deliver on our planned projects and opportunities, particularly in the aviation space, introducing autonomous solutions which can improve efficiencies, staffing shortages and sustainability for airport operations globally.”
Ian Grubb, Chief Financial Officer at Aurrigo, commented:
There’s no doubt that the IPO process is complex, and the accounting aspects especially so. We engaged Azets due to their technical expertise, hands-on nature, and ability to work as an extra member of our team, and they delivered on all promises and deadlines throughout. They also provided support in additional areas as they arose and showed great drive to help us reach our goals. We were delighted with their support throughout.Ian Grubb, Chief Financial Officer - Aurrigo
Azets has been involved in a number of high-profile Initial Public Offerings (IPOs) across the country, as well as performing accounting advisory, valuations, tax structuring and data analysis projects for a range of quoted and unquoted companies.
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