Road transport and logistics company Eddie Stobart has announced its intention to float on AIM, the London Stock Exchange’s international market for smaller growing companies.
The company, famous for its branded lorries, is targeting a market capitalisation in excess of £550 million (€636 million), with approximately £130 million of proceeds to be raised for the company.
The proposed directors of Eddie Stobert believe this will provide the company with the capital to fund its expected growth and will provide it with valuable access to a wide institutional investor base.
Admission to AIM will also provide Eddie Stobart with flexibility to undertake selected acquisitions.
Alex Laffey, CEO of Eddie Stobart, commented on the proposal: “Eddie Stobart is widely recognised as a leading supply chain solutions provider and an IPO is an exciting next step for the business that will give us a strong platform for further growth.
“We have transformed the business over the last three years and made significant investment in our customised technology and systems alongside developing our management and workforce to support growth in new business sectors. Our cost-effective solutions and best-in-class service enable our customers to focus on their core activities.
“We look forward with confidence to creating value for our customers and our shareholders in the years to come,” he concluded.
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