RM2 International to float on AIM

The biggest float of the year on the junior AIM market was announced today.

Anglo-Swiss pallet maker and supplier RM2 International has recruited list of directors to its board.

These include its chairman Ian Molson, former chair of the eponymous Canadian brewer, Sir Sturat Rose, former chief executive of Marks & Spencer and Paul Walsh , former chief executive of drinks giant Diageo.

RM2 is raising £137 million through the issue of new shares which it plans to use to expand its production capacity and to fund the production of more pallets for rental and sale.

When its shares start trading early in the new year it will have a total market value of £278 million.

Chief executive John Walsh said: “Admission will give us the ability to turn a meticulously developed and tested pallet and logistics approach - for which we believe there is a clear demand - into an operation of real scale.”

RM2 was advised by Cenkos Securities.