Clipper Logistics Group saw its share price rise steadily over its first day of trading fully on the London Stock Exchange (LSE) yesterday.
At the end of trading on Wednesday 5 June, the firm’s share price had risen to 121p from 100p at admission. 100m ordinary shares were offered on the premium listing of the LSE and were traded on the main market.
On its first day of unconditional trading, in which 49m shares were issued on Friday 30 May, Clipper executive chairman Steve Parkin said he was “delighted with the success of the offering and the strong response from investors demonstrating their support of the company’s ambitious growth plans.”
In the firm’s admission prospectus, Clipper revealed that it saw a drop in pre-tax profit for the year ended 30 April 2014.
It also revealed its growth strategy, which includes plans to expand its e-fulfilment customer base in the UK, increasing its presence in Germany, developing new products and services, and making more acquisitions.
