Components manufacturer raises £8m via AIM float

A manufacturer has raised £8 million in new capital after floating on the AIM stock exchange.Trading has begun today in shares of Strip Tinning which makes automotive connectors for use in items such as windscreens and heating systems, supplying to BMW, Ford and Jaguar Land Rover among others. The company, which has been based on Arden Business Park in Rubery since 2006, said the initial public offering (IPO) had valued it at £28 million. It said it planned to use the flotation as a springboard to make further inroads into the electric vehicle market after it opened a new 7,690 sq ft plant at its Rubery site last summer in order to manufacture products for that sector.
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