International Seafood Products Plc (ISP), the London, UK-based company which intends to establish a global intranet seafood trading system (CI No 3,692), plans to raise 2.12m pounds ($3.4m) in an initial public offering on London’s alternative Investment Market (AIM) that will value the company at 11.7m pounds ($18.9m). The company claims that its e-commerce system will remove up to 10 different levels of middlemen and brokers from the supply chain. It will set up a system so that when details of a catch are radioed in, the information will be placed on the company’s database and supermarket chains and restaurant can bid and place orders for the fish before it arrives back in port. Once established in Europe, it aims to move into the US market.
