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Bus maker Darwen floats on AIM

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Date: Monday 25 Feb 2008

LONDON (ShareCast) - Bus manufacturer Darwen Holdings said today's admission to AIM will support its strategic progress and provide greater visibility of value as the business grows.

The group, which plans to develop a line of hybrid vehicles, issued 49.29m shares and has a market capitalisation of £18.48m at the current price of 37.50p. No new money has been raised.

“We have strong technical know how, design innovation and engineering excellence within the company, and a strong reputation within the industry,” said chief executive Andrew Brian,

“The admission will further cement this reputation with our business partners and customers, supporting our goal to become a true leader in passenger vehicle design and assembly,” he added.

Cenkos Securities is acting as nomad and broker to the company.