Clipper Logistics Group is to begin trading fully on the London Stock Exchange on Wednesday 4 June.

The placing price has been set at 100p per share and will comprise of 100m ordinary shares.

Conditional trading began today (30 May) at 8am under the CLG ticker with 49m shares on offer. Unconditional trading is expected to begin at 8am on 4 June with an expected market capitalisation of £100m.

Clipper Group executive chairman Steve Parkin 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.”

Parkin will remain the largest shareholder after the initial public offering (IPO), retaining 34.8% of the ordinary shares. Other directors will hold 10.6%.

Its prospectus is expected to be published later today.

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