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Ocado to float this month
Tue, 07 Feb, 2012
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Ocado to float this month
Tue, 6 Jul 2010, 07:52:00
Online food distributor <b>Ocado</b> is to test the market's appetite for new issues with a float this month that could see the Waitrose partner valued at up to £1.1bn. Shares in the online group will be priced at between 200p and 275p, giving the group a valuation range of £800m to £1.1bn. Ocado will raise a minimum £200m through the sale of 102.5m new shares, while existing investors and management would sell up to 155.2m shares, including 10m options or warrants. The pension fund of the John Lewis Partnership, the owner of Waitrose, is expected to halve its 26.5% stake. The shares are expected to begin trading on 21 July.
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