Sondex, a UK company that provides technology for the oil and gas industry, is set to beat Benfield Group, the global reinsurance broker, to become the first trading company to list on the main market of London Stock Exchange (LSE) since last November.

The company is aiming to raise £27m (€38m) in an offer led by Collins Stewart, the UK broker. Sondex shares are due to start trading on June 12. It will beat the trading debut of Benfield Group by a few days. Benfield is due to raise £100m and start trading on June 18. Merrill Lynch and Morgan Stanley are leading the initial public offering (IPO).