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Tekcapital PLC said on Monday its subsidiary MicroSalt Inc has secured the first bulk business-to-business order of its low-sodium salt, MicroSalt, in the US.
Tekcapital also noted it is considering a London float for the subsidiary next year.
Shares in Tekcapital were up 12% at 21.22 pence on Monday morning in London.
‘This large initial order is a testament to the timeliness and flexibility of our products,’ said Rick Guiney, MicroSalt's chief executive, adding there was ‘very high’ interest for bulk business-to-business MicroSalt sales internationally.
The company said it has also begun test marketing the first MicroSalt salt-shakers for food service, restaurants and retail sale. It said that the initial reception of this test marketing has been ‘very positive’.
Tekcapital Chair Clifford Gross added: ‘Based on the rapid progress of MicroSalt and the global opportunity to convert their patented, first-mover advantage into a potentially significant position in the low-sodium salt market, we are considering a listing of MicroSalt on the London market in 2023’.
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