Skip to content Skip to sidebar Skip to footer

Oceanlinx suspends float plans

water22.jpg

In November, Greenbang was thanking the pun gods for the news that wave power firm Oceanlinx was planning a float. Well, it’s once again time to wade through that sea of puns: now it appears that the float plans have been sunk, in favour of private equity.

Reuters has the lowdown:

Oceanlinx, which has made a prototype unit that sits in the sea off Australia and harnesses wave power, had been trying to list and raise 25 million pounds ($50 million) to 35 million.

A private fundraising is seen as reducing the short-term risks for Oceanlinx’s investors, who want it to float on the market once it has built more devices and has a longer financial track record, the source said.

The IPO plan hasn’t been permanently buried at sea, though: Reuters reckons Oceanlinx could float in around two years’ time.

The Global View creates and curates research, perspectives and intelligence on the modern leader’s agenda.

Subscribe Now

Get our latest research papers and amazing posts directly in your email.

Loading

The   Global view © 2022. All Rights Reserved.