CVS Group eyes January market switch

A major veterinary group has revealed it expects its transition to the main market of the London Stock Exchange to be completed within weeks.

The CVS Group revealed in October that it was seeking to transfer from the exchange’s AIM market, where its shares have traded since its initial flotation in 2007.

A new trading update has now given formal notice that admission is expected to take place on 29 January with trading on the AIM market anticipated to end the day before.

The company said admission remains subject to conditions including Financial Conduct Authority approval.

‘Attract more investors’

But it also advised shareholders to “take their own financial and taxation advice regarding the consequences” of the switch.

Bosses have claimed the move will help them to attract more investors and greater capital input.

Since the switch plan was announced, the company has also issued a positive trading update despite what it described as economic “headwinds” ahead of its AGM last month.

Share prices have risen since the latest market transfer update was issued, though there has been a slight fall in early trading this morning, 23 December.