Volex has confirmed its intention to apply to the Financial Conduct Authority for admission to trading on the main market of the London Stock Exchange (LSE).

The critical power and data transmission products manufacturer said its admission is not conditional upon shareholder approval.

Volex said it is targeting admission prior to 4 August, and that subject to admission occurring, its listing on AIM will be cancelled.

The update comes after Volex announced that its board has approved and launched a hare buyback programme to return up to £40m to shareholders.

Following the update, shares in Volex jumped by over 2%.

---