AI growth to energy cable agency Volex into the FTSE 250 as gross sales in its information centre division soar
Nat Rothschild’s power cable firm Volex hopes to enter the FTSE 250 as sales in its data centre division boom.
Volex, led by financier Rothschild, said it will apply to the City watchdog to move from London’s junior AIM market to the main market before August 4.
The group is worth just under £900million, making it more valuable than household names in the FTSE 250, such as Pets at Home and ticket platform Trainline.
It also launched a share buyback programme to return up to £40million to investors, which will finish by the end of March 2027.
Shares have more than doubled over the past year and rose 0.6 per cent yesterday to 482p.
Volex expects full-year sales in its data centre division to double from last year’s £89.13million amid a boom in demand for artificial intelligence.
Sales up: Volex, led by financier Nat Rothschild (pictured with wife Loretta), said it will apply to move from the junior AIM market to the main market before August 4
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