Market pours £41m into Waterlogic

WATER cooler company Waterlogic confirmed it is valued at £112.5 million as it joins the stock exchange today.

The firm, whose machines purify water from the mains supply, raised 41m as it floated on Aim. It said a further 7.5m worth of shares were sold by existing shareholders.

Waterlogic will use the proceeds of its flotation to fund acquisitions, as well as seeking organic growth.