Member Article

Leeds’ Clipper Logistics expected to raise £100 million from IPO

Leeds-based Clipper Logistics plc, a logistics solutions provider to the retail sector, has announced the successful pricing of its IPO.

Based on the placing price (at 100p per ordinary share), the total market capitalisation of Clipper at the commencement of conditional dealings will be approximately £100 million.

The value of ordinary shares sold by the selling shareholders is expected to be approximately £100 million.

Admission and the commencement of unconditional dealings are expected to take place at 8.00 am on June 4.

Steve Parkin, executive chairman of Clipper, said: “I am delighted with the success of the offering and the strong response from investors demonstrating their support of the company’s ambitious growth plans.

“This is a major milestone in the company’s development and I look forward to the next phase as a publicly listed company with great confidence.”

Clipper supplies to blue chip retailers such as Asda, Morrisons, John Lewis and ASOS.

This was posted in Bdaily's Members' News section by Clare Burnett .