Haydale went public a few weeks ago, raising £6.6 ($11 million). Haydale's broker, Hume Capital Securities "temporarily" dropped all of its market-making activities on IPO day. Haydale's shares dropped 15% on the first day, and reports suggested that Haydale is considering to sue the broker.
Haydale's share price continued to slide, and today the price is about 122 pence - that's almost a 50% drop since the IPO. Today Haydale announced that it has "no current intention" of pursuing any legal action against its broker. The company is aware that those rumors may have caused the shares to drop further.
Haydale is the third pure-graphene company to list in the UK. First up was Cientifica (which recently failed to raise more funds) and Applied Graphene Materials. Another AIM company, Graphene NanoChem is also involved with graphene.
Haydale is developing and marketing carbon materials under the HDPlas brand. The company currently focuses on graphene, CNTs and zinc nanomaterials. The company also developed metal-free graphene-based inks. In October 2013 we posted an article explaining Haydale's business and technology.
