The money raised from the initial public offering will allow Eddie Stobart to pursue both organic and acquisition-led growth in a highly fragmented market that is flourishing on the back of the booming European e-commerce sector, holding company Greenwhitestar UK said.

Eddie Stobart is targeting a market capitalisation in excess of 550 million pounds and expects its shares to start trading on the Alternative Investment Market in April.

The listing comes a little more than three years after the trucking and distribution business was taken private with Stobart Group's (>> Stobart Group Ltd) sale of 51 percent of the company for 239.7 million pounds to a group then led by William Stobart, son of the parent company's founder Eddie Stobart.

The group was backed by asset management firm DBAY Advisors.

The AIM listing will also allow Greenwhitestar UK -- which is 51 percent owned by funds advised by DBAY Advisors and its co-investors and 49 percent by the Stobart Group -- to reduce its stake in Edddie Stobart to no more than 30 percent.

Cenkos Securities (>> Cenkos Securities plc) is acting as broker to the company.

(Reporting by Esha Vaish in Bengaluru; Editing by David Goodman)

Stocks treated in this article : Stobart Group Ltd, Cenkos Securities plc