Eddie Stobart Logistics has completed its IPO and listed on AIM at the London Stock Exchange. Trading in shares began at 8am today and, as of the time of writing, remain unchanged at a list price of 160p. Alex Laffey, chief executive at Eddie Stobart, said that the completion of the IPO was a “key milestone” for the business. “We have received strong interest from investors and we are excited to begin this new period as an independent company with […]
William Stobart has stepped down as a director of the business that bears his surname ahead of its float on the stock exchange on the 25 April.
18) Alex Laffey Title: Chief executive officer, Eddie Stobart Logistics In April 2014 Stobart Group disposed of 51% of its 100% shareholding of the Stobart road transport business to Douglasbay Capital (Dbay) – the former owners of TDG – for £280.8m.
The combination of the £16m sale of its former automotive logistics division and securing a “significant” customer wins towards the end of its last financial year helped Eddie Stobart Logistics generate a £21m surplus, which was used to repay its debt.