The FINANCIAL -- London Stock Exchange on April 25 welcomes Eddie Stobart, the Cheshire-based logistics company, to AIM.
The company successfully raised £130 million at IPO, with a market capitalisation of £572 million. To celebrate the occasion, Mark Fahy, Head of UK Small and Mid Cap Companies, London Stock Exchange attended a ceremony at the company’s offices in Cheshire.
Eddie Stobart is the largest IPO on AIM in 2017 and the tenth company to join the market this year. The company joins four Northern - based UK businesses that have floated on AIM in 2017, demonstrating the success of the market in supporting companies from across the country. To date, the 9 AIM IPOs have performed strongly, up 28 per cent on average, with an average market cap of £47 million, according to London Stock Exchange.
Mark Fahy, Head of UK Small and Mid Cap Companies, London Stock Exchange:
“We are excited to welcome Eddie Stobart to our markets today and congratulate the company on their successful IPO. AIM is a market for the whole of the UK, supporting companies from every region of the country and through every stage of their growth journey. The significant capital already raised on AIM this year is a clear sign of the market’s enduring ability to connect dynamic companies with capital.”
Alex Laffey, CEO, Eddie Stobart:
“Listing on AIM is a key milestone for Eddie Stobart. We have received strong interest from investors and we are excited to begin this new period as an independent company with the appropriate capital structure to take advantage of growth opportunities in the supply chain and logistics market. We welcome our new shareholders and look forward with confidence to the next phase of our development as a listed company."