October 26, 2021
Urban Logistics is to move up to the main market of the London Stock Exchange, having outgrown Aim, the City’s junior segment, on the back of the booming market for warehouses.
The warehouse landlord said that a premium listing on the main market was “most appropriate” as the company’s valuation has swelled above £500 million.
A premium listing would allow Urban Logistics to enter the FTSE 250 should it continue to grow. At the moment, to be considered for London’s mid-cap index, a company would need to be worth upwards of £700 million.
Urban Logistics was set up five years ago and had a market capitalisation of £10 million when it made its stock market bow in 2016. It owns 91 mid-sized warehouses, generally smaller than 200,000 sq ft, across the UK, which it lets predominantly to last-mile delivery groups.
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