The company is a producer and global supplier of water filters and
filtration systems for the industrial, municipal and irrigation
markets.
A spokesman said Amiad was seeking to raise about 8 million pounds,
which would bring its valuation to above 30 million pounds.
Amiad said in a statement that it generated revenues of $37 million
(21 million pounds) in 2004 and posted a pro forma after-tax profit
of $3 million. The company noted that it sells its products to 60
countries across the Americas, Africa, Europe, Asia and Australia.
More than 85 percent of sales are outside Israel.
"The directors believe Amiad is well placed to benefit from the
rising demand for cleaner water due to greater water quality
regulation, ever growing population and continued industrialisation,"
the company said.
It added that a public listing will enable the development of sales
and increase marketing capabilities with a focus on high-growth areas
such as China, India, Mexico, Africa and Eastern Europe. It will
allow the company to target new high growth markets like ballast
water, pre-filtration and oil and gas sectors.
Amiad would join a growing number of small Israeli companies in
opting to go public on London's
AIM.
Israel's Amiad Filtration Systems reported that it intends to go
public on London's AIM by the end of the year.