UK-based logistics company, Eddie Stobart, has successfully raised £130 million (€150 million) from its Initial Public Offering (IPO) on the London Alternative Investment Market (AIM).
According to the London Stock Exchange, the IPO results value Eddie Stobart at £572 million (€678 million), and mark it as the largest AIM IPO so far in 2017.
To celebrate the occasion, Mark Fahy, Head of UK Small and Mid Cap Companies, London Stock Exchange, attended a ceremony at the Eddie Stobart offices in Cheshire, UK.
“We are excited to welcome Eddie Stobart to our markets today and congratulate the company on their successful IPO,” said Fahy.
“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, said listing on AIM is a key milestone for the company.
“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,” Laffey said.
“We welcome our new shareholders and look forward with confidence to the next phase of our development as a listed company.”