On Wednesday, Tekcapital provided further evidence that MicroSalt is on the verge of listing in what could be the first AIM IPO of 2024.
The technology investment company said it had disposed of shares in another portfolio company, Belluscura, for the sole purpose of contributing towards MicroSalt’s admission to AIM.
MicroSalt has developed salt technology that lowers sodium intake without sacrificing taste. Millions of people globally die prematurely due to cardiovascular diseases exacerbated by the overconsumption of sodium.
Governments and large food corporations are waking up to the health implications of high-sodium intake and MicroSalt is well-positioned to drive the reduction in consumption.
In 2023, the company recorded a significant year of commercial progress for both its salt shakers and B2B business, including deals with two Fortune 500 companies.
According to the admission document released last year, MicroSalt has established a commercial relationship with one of the world’s largest snack food businesses, and Tekcapital further confirmed substantial orders of bulk low-sodium salt in its annual corporate review.
An updated Schedule One form submitted to the London Stock Exchange in December indicated MicroSalt would list in late January. Given the company has not advised otherwise, the listing could be a matter of days away.
