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Vectrix vying for $100 million

Article Date:  Apr 24 2007 James Crux

Vectrix Corporation, a manufacturing outfit based in Poland, is shaping up to float on AIM over the next two months. It is currently eyeing up a placing of up to $100 million (£49.9 million) giving the company a pre-new money valuation of between $200 million - $250 million.

The company designs and develops zero emission two-wheel electric vehicles that it claims are ten times more powerful than existing electric scooters. Placing proceeds will be used to ramp up marketing efforts for its MAXI Scooter, develop the dealer network, and further invest in R&D and production facilities.

HSBC has been appointed as adviser and broker to the company.

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