BCO Technologies, which began dealings on the Developing Companies Market in Dublin and London's Alternative Investment Market yesterday, announced plans to invest £7.5 million in equipment for its manufacturing process.

The Belfast-based semiconductor electronics company stated that it had raised new funds of £10 million and that it would increase its employees by up to 100 in the next three years. "As a consequence of BCO now moving into higher-volume production, the directors anticipate increased production efficiency," the company stated. Yesterday the shares traded in Dublin at 166p after they were placed at 140p sterling (158p).

A spokesman for the company said that the shares ended trading in London at 151.5p sterling.