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OCZ Technology speedy start

California-based OCZ Technology got off to a strong start when it joined AIM but a fortnight later the shares were only 0.5p above the flotation price.

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OCZ, whose high-performance components increase the speed and reliability of computers for the commercial and retail markets, raised £4.9m from a placing at 65p, valuing the firm at £27.2m. The company focuses on products for the high-performance and consumer memory sectors, computer power supply units and portable memory storage (flash). The new money will help to reduce financing costs and provide working capital to finance rapid growth.

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