| Sagentia eyes another exit as TurfTrax unveils IPO |
| Written by Ben Fountain | |
| Thursday, 03 January 2008 | |
|
Technology consulting and venturing outfit, Sagentia has announced that horseracing technology company, TurfTrax - in which it owns an 8.8 per cent stake - is seeking a £3m IPO on the AIM market.
The placing is aimed at providing TurfTrax with "sufficient funds
for the expansion of its ongoing international commercial interests,
increased capital expenditure and further working capital."
Admission is anticipated to occur later this month, following
which Sagentia will own approximately 7.3 per cent of the enlarged
share capital. TurfTrax supplies data and data products related to the
real-time, 'in-race' speed and position tracking of race horses.
The company's tracking data enables the provision of fixed odds
'in-running' betting with dynamically changing prices. The product is
based on technology originally developed at Harston-based Sagentia.
TurfTrax says it believes that its new betting product represents the
"most significant product revolution within horse race betting in the
past 20 years." |
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