Tribe makes AIM debut


Staff reporter

Belfast drill rig maker Tribe Technology has debuted on London’s Alternative Investment Market (AIM) with a market value around £22.2 million (US$27.8 million).

The company raised £4.6 million via an initial public offering at 10 pence a share.

Tribe CEO Charlie King said AIM was a “natural fit for Tribe Tech, with its international investor base and proven track record for helping technology companies achieve their growth ambitions”.

“Our technology is the solution to the reverse circulation drill rig market for improving efficiency and safety in the rapidly changing world.

“Today marks an important milestone for Tribe Tech.

“We are excited to be working towards the completion of our first autonomously operated drill rig later this year.”

 

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