DX Group to trade with a market cap of £200m

DX Group expects to have a market capitalisation of £200m when it begins trading on London's AIM next week.

The company expects to begin trading at 100 pence per share on Thursday 27 February under the DX ticker.

DX said the proceeds of the IPO will be used to repay existing senior debt, shareholder loans and private equity, which will allow it to invest in its services.

It also hopes the IPO will allow it to target a combination of organic growth, efficiency improvements and the turnaround of DX Freight.

CEO Petar Cvetkovic said: “We are very pleased with the strong level of support from institutional investors which is testament to  the strength of our business and the future prospects ahead of us.

"The placing and subsequent admission to AIM will support our business as we seek to continue to deliver great customer service and grow our brand.”