Latest News

Moonpig prices IPO value at £1.2bn

0

Moonpig Group PLC has outlined its plans for an initial public offering (IPO) that will see it valued at around £1.2bn on the London Stock Exchange.

On Tuesday, the online greeting card seller said funds managed by BlackRock and Dragoneer have entered into agreements to subscribe for around £130mln offer shares at a price that will represent an equity value of £1.2bn for the group at admission.

The news adds further details to the planned float, which was originally announced last week and will see the group float at least 25% of its share capital.

Moonpig said admission is expected to occur next month and that the final offer price for the shares will be unveiled once it completes as book-building process.

“As leaders of a market undergoing an accelerating shift online, we’re delighted to bring Moonpig Group to the public market. Our data-powered technology platform makes it incredibly easy for our customers to create more special moments for the people they care about”, chief executive Nickyl Raithatha said in a statement.

“With our curated gifts and personalised cards, high-speed logistics and unique predictive insights into gifting intent, we make the art of remembering, choosing and creating the most thoughtful card and gift as effortless as possible. As the market leading platform, with a strong track record, and a huge opportunity to grow, we are confident about our decision to become a publicly traded business”, he added.

Moonpig is one in a long line of IPOs planned for the London market in 2021, with takeaway delivery app Deliveroo and bootmaker Dr Martens also among those planning floats.

Entain best of the runners in US online sports-betting race suggests broker

Previous article

US to bring out the inauguration bunting on Wednesday, UK eyes trading updates from Burberry and oth

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News