Armor Designs, an Aim-listed company valued at £146m in spite of having only tiny revenues, is considering a decision to raise several million pounds in fresh funds, possibly by means of a private placing of shares.

The company, founded in 2004, is based in Phoenix, Arizona, and makes body armour. Floated on Aim at £5 a share in December 2007, Armor has seen its shares rise to £5.50 – a figure which has not budged since October, in spite of global stock market convulsions.