Vision Group Plc, nee VLSI Vision Ltd, has applied for full listing on the London Stock Exchange and is expected to go public in about one month. It expects to raise around ú5m from the flotation, valuing the company at between ú22m and ú27m. The cash will be used to fund product development. The placing will be handled by Birmingham-based brokers Albert E Sharp. Edinburgh-based Vision develops and markets single-chip cameras. It was founded in May 1990 by managing director Professor Peter Denyer, who developed the vision technology at Edinburgh University in the 1980s. In the fiscal year-ended July 31 the company saw a loss before tax of ú223,000 on turnover of ú1.1m. Turnover in the six months to January was around ú800,000. The company's products include the PC Card Camera, a sub-miniature electronic camera for use with portable computers that enables still pictures and real-time video to be captured instantly into a portable with PCMCIA Type II slot and compatible software and the Imputer, a small programmable camera for machine vision applications such as production line inspection.
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