Quorum Oil and Gas Technology, the Toronto-based investment company that joined London’s main market at the beginning of last year, is seeking to raise a further $50m.

Wanda Dorosz, chief executive, said the reason the group is looking for cash in the traditionally difficult month of August is that the company has several exclusive deals already lined up. “We would like to be in funds by mid-September,” she said, so that the money can be passed on and the deals completed.