Subsea equipment specialist Ashtead Technology Holdings PLC (AIM:AT.) floated 12% higher to 386p after releasing a buoyant update and confirmed that it will glide over from AIM to London's main market on the first Monday of October.
The Aberdeenshire-based outfit, which said it had completed "extensive shareholder consultation" on the listing move, also revealed that revenues rose 23.2% to £99.1 million in the first six months of 2025, with adjusted EBITA up 19.7% to £27 million.
Net cash from operating activities grew to £21.1 million from £9.7 million a year earlier.
Ashtead completed the integration of Seatronics and J2 Subsea and expanded in the US and Norway.
The board reaffirmed full-year expectations and highlighted continued customer backlogs and robust market demand.
Chief executive officer Allan Pirie said: “The board believes that the greater liquidity and broader access to international investors offered by the Main Market will provide an excellent platform for the next phase of Ashtead Technology's growth strategy implementation."