Why is Volex applying to move to the main market?

Volex is applying to move from the junior AIM market to the main market to join the FTSE 250 index.

What is driving Volex's sales growth?

Sales growth, particularly in the data centre division, is being driven by a boom in demand for artificial intelligence.

How much has Volex's share value increased?

Volex's shares have more than doubled over the past year.

Home / Business and Economy / Volex Eyes FTSE 250 Amid AI-Driven Sales Surge

Volex Eyes FTSE 250 Amid AI-Driven Sales Surge

8 Apr

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Summary

Volex plans to move to the main market before August 4.
Data centre division sales are expected to double this year.
Shares have more than doubled in value over the past year.

Volex Eyes FTSE 250 Amid AI-Driven Sales Surge

Nat Rothschild's power cable manufacturer, Volex, is aiming for a significant upgrade to the FTSE 250 index. The company intends to apply to the City watchdog for a move from London's junior AIM market to the main market by August 4. Volex's current valuation is just under £900 million, exceeding the market capitalization of several existing FTSE 250 constituents.

This strategic move is bolstered by exceptional performance in its data centre division. Volex anticipates its full-year sales in this segment will double from the previous year's £89.13 million. This surge is directly attributed to the rapidly increasing demand for artificial intelligence infrastructure. The company also launched a share buyback program worth up to £40 million, set to conclude by the end of March 2027, signalling confidence in its future prospects.

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