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Float values SuperGroup at £395m
Wed, 08 Feb, 2012
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Float values SuperGroup at £395m
Fri, 12 Mar 2010, 09:55:00
<b>SuperGroup</b>, the fast growing UK retailer, today priced its IPO at 500p per share, giving it a market value of £395m. The group, which owns the Superdry brand, said the institutional offer has been heavily oversubscribed. The net proceeds of the offer will amount to £120m, of which £105m will to the management and other long serving stakeholders, while the remaining £15m will be used to accelerate the group's plans for growth. 'We are delighted that the institutions are as excited as we are by the success and growth prospects for SuperGroup, as evidenced by the level of subscriptions we have received for the Institutional Offer,' said chief executive Julian Dunkerton. 'I am therefore delighted that we will now move to the next phase of our planned flotation, being the retail offer to the public. This offer will allow customers, friends, family, business partners and the general public an opportunity to invest alongside institutions and the Board in the growth of SuperGroup.' Seymour Pierce is acting as Sponsor and Sole Bookrunner.
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