There haven't been many new technology issues lately, but one group intent on braving the hostile waters of techMARK is Actinic. The designer of e-commerce software for SMEs (small- and medium-sized enterprises) hopes to raise £22.8m prior to admission to the London market. Founded in 1996, Actinic's turnover has grown from £6,000 in 1997 to £571,000 in 1999. For the six months to the end of March 2000, the software group reported revenues of £879,000. The net operating loss before exceptional items also ballooned, reaching £436,000. Actinic's main product is Catalog, which allows small businesses to build a shop on their PC and then publish it on a web server. PortalBuilder is its newest offering, providing customers with the tools to set up a shop within their portal. These products are distributed through resellers and distributors, such as ISPs and web hosting companies. Actinic will have a market capitalisation of £99.6m, with 3i holding 22.1% of shares and chief executive Kevin Grumball and chief operating office Chris Barling keeping 19% each. Dresdner Kleinwort Benson is the group's sponsor, broker and adviser. Dealings are expected to commence on 26 May.