News
27 Feb 2014 01:18pm

AIM floating on a high

IPO activity has more than doubled on AIM, underlining the increasing confidence of business in the UK equity markets

In the first two months of this year, seven IPOs worth £550m have taken place on the market – including today’s DX Group flotation which successfully raised £200m. This compares to just three IPOs over the same period last year which raised just £26m.

The DX Group, which provides next day delivery services for mail, parcels and two-man deliveries to business and residential addresses nationwide, is the 19th largest flotation since AIM was set up in 1995 and the third largest to take place since 2007.

A delighted DX chief executive, Peter Cvetkovic, said, “We are particularly pleased with the strong show of support from institutional investors which is a testament to our future prospects.”

AIM’s head Marcus Stuttard believes that the success of the DX Group IPO emphasises AIM’s long-term capacity “to provide substantial capital to ambitious, growth-oriented companies”.

“As one of the largest flotations ever on AIM, this transaction confirms the market’s maturity and ability to support companies from across the UK and around the world that seek to grow using equity finance.”

Julia Irvine

 

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