Scottish maker of tiny disk drives Calluna Technology Ltd is expected to announce plans for a public flotation either today or sometime early next week, although it is not providing any confirmation or details. It has been suggested that the flotation may be pitched to value the company at UKP40m. Calluna is currently financed by a group of private investors, although 3i Plc, an original investor when the company set up in the very early 1990s, has at some point left that group. The Glenrothes, Fife-based company designs and manufactures credit card sized hard disks in Scotland and sells them to OEM customers and distributors worldwide. It went into full production of its 170Mb PCMCIA Type III compatible 1.8 hard disk drives last month and will be releasing a 260Mb drive in December. Sometime next year, it plans to release a 340Mb drive and it will make announcements nearer the time.
