Kate Middleton-favoured maternity brand Seraphine eyeing £150m IPO
Online maternity and nursing brand Seraphine is looking to raise just over £150m in its London IPO, floating on the tech-crazed market for the first time today.
Today’s float, which commenced at 08:00, will see Kate Middleton’s go-to maternity brand’s shares set at 295p per share under the ticker “BUMP”.
Around 50 per cent of the company’s capital will be issued as part of the IPO.
The group confirmed its intentions to float on London’s main market at the end of June when it was looking at a just £61m float.
Maternity wear boss, David Williams, said: “We are absolutely delighted to be starting our journey as a public company by joining the Main Market of the London Stock Exchange, raising our profile and providing us with the platform to achieve our international growth plans.
“I am pleased with the strong level of support we received for our IPO and I would like to welcome our new shareholders to the register.”
Seraphine intends to use approximately £16m of the proceeds to repay its existing term loan and to pay costs associated with the float, the group said last month.
The remaining £45m will be used to repay Seraphine’s loan notes held by certain existing shareholders in the company.