£20 million AIM IPO of Aurrigo plc
About Aurrigo plc
Aurrigo is a leading international provider of transport technology solutions. The company designs, engineers, manufactures and supplies OEM products and autonomous vehicles to the automotive and transport industries. It is highly regarded as a specialist in autonomous and semi-autonomous technology solutions for the aviation, ground handling and cargo industries.
In September 2022, Singer Capital Markets acted as Nominated Adviser, Sole Broker and Sole Bookrunner to Aurrigo on their £20 million AIM IPO; raising £8 million from the admission of 41,666,667 Ordinary Shares, at a Placing Price of 48 pence per share. The proceeds of the Placing will be used by the Company to realise the potential growth of the Company’s Aviation Division, scale headcount at all levels (both in the UK and internationally), increase brand awareness and to capitalise on its early mover advantage through the deployment of Auto-Sim and Auto-Dolly, the Company’s lead products.
Since floating, the group’s share price has increased 152% to 132.5p and its market cap has grown from £20m to £55.21m. Aurrigo has also continued to deliver on its key IPO objectives. In October 2022, the group signed an agreement with Changi Airport Group for the next phase of development of the Auto-Dolly, its innovative baggage transportation solution for airports, and this was shortly followed by a multi-year partnering agreement with Changi in February 2023.
“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."
Prof. David Keene
Chief Executive Officer of Aurrigo