iPod battery maker unveils flotation plans

A maker of rechargeable batteries for iPods today announced plans to float on the London stock market in a move expected to value it at £25m (€36.4m).

Jumpit’s portable docking station, called iRecharge, allows users to charge their music player when power sockets are unavailable.

The Norwegian firm also sells back-up batteries for mobile phones, camcorders and digital cameras, and a multi charger which allows seven different mobile phones to be charged at once.

It hopes a flotation on the Alternative Investment Market will help it break into the lucrative UK market where iPod sales have been booming. Jumpit’s devices are mainly sold in the United States at the moment.

Chief executive Halvor Isaksen said: “Using the same approach that has led to Jumpit’s successful penetration of the US market, we see a clear opportunity to enter new markets such as Asia, the UK and other European centres.

“Joining AIM will support these objectives and provide the financial platform for our next stage of growth.”

The company hopes to become the leading developer of instant charging products for handheld devices.

Jumpit hopes to float on AIM in June.