Revolymer makes solid debut on AIM

REVOLYMER, the Deeside polymer company which is behind a removable and degradable chewing gum already being sold in the US, has made a solid start as public company.

Shares which were listed at 100p, raising £25m (£23.2m after expenses) rose to 102.5p on its first morning of trading on AIM, before falling back slightly to close at 102p.

Revolymer, which is based at the Deeside Industrial Park near Chester, was spun out of the University of Bristol. It is developing products for a number of products for fast moving consumer goods markets. As well as its chewing gum brand it is targeting the coatings and adhesives, household products and personal care sectors.   

Upon listing the company said former GlaxoSmithKline chief financial officer Julian Heslop had joined the board as a non-executive director.

He said: “I look forward to playing an active role as the group seeks to generate significant value from its broad product pipeline by signing a number of licensing deals with important players in the FMCG markets it is targeting.”

Manchester stockbroker Roy Kaitcer of Brewin Dolphin said: “Revolymer has made a steady start in uncertain market conditions. The appointment of Mr Heslop will bring credibility to the business as it begins its journey as a public company.”