Telecoms testing company Calnex is to list on the stock market with an initial public offering to raise £22.5m.
The Linlithgow-based company said the listing would value the company at £42m.
It will be the first stock market listing for a Scotish-based company for many months.
The business makes test equipment for telecoms networks that allows customers to check the performance of key infrastructure.
Since its inception in 2006, the business has secured more than 600 customers including BT, Facebook, Nokia and Ericsson.
The business has secured the new capital to support the roll out of 5G across the UK and world.
Calnex founder and chief executive Tommy Cook said the telecoms industry was experiencing “unprecedented levels of change” that provided the opportunity for “substantial revenue growth”.
The IPO, which Calnex said was significantly oversubscribed, will raise £6m for the company and £16.5m for existing shareholders.
He added: “Having demonstrated sustained growth since inception, the move onto the public markets will provide us with new capital, a raised profile and enhanced ability to execute on acquisitions, as we seek to capture an increased share of the growing market for telecoms test solutions.”
The company said it will place 46.9 million new and existing shares at a price of 48p per share.
On admission, the company will have 87.5 million ordinary shares and a free float of roughly 43 per cent.
Its expansion abroad has included marked growth in China, where its customers including all of the big Chinese telecom players.
