Clipper Logistics has said it has no firm plans for floatation on the London Stock Exchange (LSE) this year, after a media report suggested that it was considering an initial public offering (IPO).
A spokesman for the operator told The Hub that although it has been exploring the possibilities of an IPO, it does not currently have firm plans to begin selling shares in late spring, as chairman and founder Steve Parkin suggested to The Business Desk this month.
This is not the first time Clipper has toyed with a float. After delivering a strong set of results in 2010, it revealed it had been inundated with offers of private equity funding, and wanted to “create a legacy” by floating on the stock market.
Road transport related stocks have performed well on the Stock Exchange in the past 12 months. UK Mail Group's share price rose by 105.3% in 2013. Dart Group saw a 91% y-o-y rise, and Wincanton, a 78.6% y-o-y rise.
Unable to keep up with such figures, but still rising year-on-year are Stobart Group (up 37.3%); Hargreaves Services (26.7% up y-o-y) and NWF Group with ‘just’ a 24.4% increase y-o-y.
Clipper may have ruled out such a move for now, but surely the temptation of such a return will prove irresistible.