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ProCook London IPO set to stir a near £160m valuation
ProCook’s upcoming London initial public offering (IPO) is set to secure the gourmet kitchen retailer a nearly £160m valuation.
The retailer will offer shares for 145p a piece, which will rally the £158m valuation.
“We have been thrilled with the level of interest and support from a range of institutional and retail investors,” CEO and founder Daniel O’Neill said.
“I am really proud of how far we have come as a business, and today’s announcement is another key step on our growth journey.”
The offering will see some 27,400,000 shares by the company’s existing shareholders up for grabs, which means the total offering size is around £39.7m and represents approximately 25 per cent of the company’s issued share capital on admission.