THE RISING confidence in equity markets has delivered another float, as parcel service
DX, which delivers mail as well as parcels and freight, first floated in 2004 but was taken private two years later. It plans to use the cash this time around to pay off debt and fund further expansion, particularly in its logistics business.
The float comes four months after
DX, originally part of Hays, is owned by a fund run by
DX and Arle, its private equity owner, spent several months weighing up options for the firm before settling on a float late last year.
Demand from institutional investors is said to be strong ahead of a pricing next week and the shares hitting the stock market on 27 February.
The flotation is the latest in a growing IPO caseload for investment bank
Zeus brought Conviviality to the junior stock market last July, raising £64m for the firm in a twice oversubscribed placing. The firm has also helped to float
Joint chief executive
Buchanan is acting as financial PR adviser.
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