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Camden Market IPO: Owner Market Tech Holdings aims for £100m listing on Aim

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The owner of Camden Market, Market Tech Holdings, yesterday announced its intention to list on London’s Alternative Investment Market.
 
Market Tech is the holding company of a group that combines real estate assets in Camden Borough – namely Camden Stables Market, Hawley Wharf, Union Street Market and Camden Lock Market –  with an e-commerce business based around a new online platform called Market.
 
The company’s directors believe the online retail offering combined with the iconic Camden markets will create a premium experience for customers and increased retailer sales.
 


Camden Market has been a beacon for London's alternative scene

 
Chief executive Charles Butler told Morning Wire: “We feel we’re providing unique, independent retailers with a one-stop solution in regards to both a physical shop and an online output, as well as providing customers with a global portal to the markets.”
 
Expected to list before the end of the year, the company is looking to raise up to £100m – which would give it £750m market value upon its AIM admission. Jefferies, Berenberg and Shore Capital are joint stockbrokers on the IPO. Proceeds will be used to develop the existing Hawley Wharf site into Camden Lock Village, a new site that will incorporate commercial and retail space alongside modern housing and a new primary school. 
 
Market Tech is owned by Israeli technology entrepreneur Teddy Sagi. This will be Sagi’s third London IPO this year, with SafeCharge and Crossrider currently trading above their issue prices.
 

BEHIND THE DEAL

SHORE CAPITAL MARKETS | SIMON FINE
 
1 Fine joined Shore Capital in 2002 as chief executive. He was previously co-head of pan European equity cash trading at Lehman Brothers. 
 
2 He has recently advised on Crossrider’s £75m IPO, the £95.5m float of Next Energy Solar Fund, SafeCharge’s £76m listing and Playtech’s £325m secondary placing.  
 
3 Outside of work, Fine enjoys spending time with his family and practising karate – in which holds a black belt. 
 
Also advising…
Alongside Shore Capital, Berenberg and Jefferies were joint stockbrokers on the float.