Aircraft leasing business Avation is to move from the PLUS-quoted market to the Main Market of the London Stock Exchange (LSE).

Aircraft leasing business Avation is to move from the PLUS-quoted market to the Main Market of the London Stock Exchange (LSE).

The company, which has a market capitalisation of £15 million, will commence trading on the LSE as a Standard Listing on 6 October, when its shares will be withdrawn from PLUS-quoted. Its ticker symbol will be AVAP.

Avation’s chairman Jeff Chatfield says the company’s balance sheet has grown significantly since it was admitted to PLUS in 2006.

Adds Chatfield, ‘We feel that the current share price doesn’t truly reflect the company’s value. We believe a move to the Main Market should promote a greater correlation between the company’s financial performance and its share price and also improve market liquidity.

‘Additionally, the profile of Avation will be raised, facilitating growth and, in being a company on the Main Market, the Board considers that raising new debt or equity finance, if required, in the future will be easier than had the Company remained on PLUS.’

PLUS-quoted currently plays host to 166 companies with a combined market capitalisation of £2.3 billion.