Iofina, with extensive iodine and gas deposits in Montana, lists on AIM tomorrow after a £15 million placing at 55p.

Headed by chief executive officer David Schneider, a chemist who sold his H&S speciality chemicals company to the Syrgis group three years ago, Iofina boasts a technology for the profitable extraction of iodine, for use in medical and industrial markets. Jeffrey Ploen, director of Texas-based Momentum Biofuels, is chairman of the company, whose directors include Dr Christopher Fay, firmer head of Shell UK and well operator Expro International and a director of mining colossus Anglo American.

Mirabaud Securities is broker to London-headquartered Iofina. Strand Partners is nominated adviser.

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