DX flotation raises £200m for mail operator

Shares in mail and parcels group DX soared in early trading as the company made its stock market debut.

The firm raised about £200.5 million by floating on London’s Alternative Investment Market, with the shares issued at 100p each. In early trading, the shares climbed as high as 136p, valuing the business at almost £273m.

Chief executive Petar Cvetkovic said: “We are delighted to launch as a public company today, and are particularly pleased with the strong show of support from institutional investors which is testament to our future prospects.”