The firm behind a raft of kitchen gadgets and household goods hailed an "important step" for the group as it unveiled its £105 million stock market flotation.
Ultimate Products, which owns the Beldray brand and holds the licence to sell Russell Hobbs and Salter kitchenware ranges in the UK, has priced its initial public offering (IPO) at 128p a share, valuing the firm at £105.2 million.
Manchester-based Ultimate - chaired by former Poundland boss Jim McCarthy - is floating around 50% of its share capital and plans to raise £52.6 million from the move to fund expansion.
Conditional dealing in shares started on Wednesday and the group said full admission to the stock market was expected on March 6.
The move comes after Ultimate Products had put plans for a listing on ice prior to the EU referendum.
Simon Showman, chief executive and co-founder of Ultimate Products, said the firm had seen "strong interest" from investors for the IPO.
He added: "We are delighted to be welcoming new shareholders to the register as we take the business forward with this important step in Ultimate Products' story."
The group develops, designs, sources and distributes a wide-range of products, from kitchen gadgets such as juicers and spiralizers to headphones and ironing boards.
It owns Beldray - the UK's first manufacturer of steel ironing boards - as well as audio specialist intempo, which is targeted at the teenage market, and luggage brand Constellation.
Ultimate sells household brands to more than 300 retailers across 38 countries, including UK supermarket giants Tesco and Sainsbury's, Amazon, Boots, Halfords and Poundland.
Details of the IPO came as the firm reported a 58.2% rise in underlying earnings to £4.4 million for the first quarter of 2017 on revenues 48.7% higher at £33 million.
Founded in 1997 by Mr Showman and non-executive director Barry Franks, Ultimate was previously backed by private equity firm LDC, which held a 46% stake.
But LDC exited in 2014 via a management buyout, with Mr Showman now the largest shareholder.
The group said Mr Showman and Mr Franks, together with managing director Andrew Gossage, will retain a 44.9% stake in the company after the flotation.
It named retail veteran Mr McCarthy as chairman in December, having been a supplier to his Poundland chain for a number of years.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here