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Moonpig eyes valuation of more than 1 billion pounds from London IPO

Online greetings card retailer Moonpig Group plans to raise up to 422 million pounds ($575.65 million) from an initial public offering.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Online greetings card retailer Moonpig Group plans to raise up to 422 million pounds ($575.65 million) from an initial public offering its bookrunner said on Tuesday, in a deal that would value it at as much as 1.2 billion pounds.

The company is pricing its shares at a range of 310 pence to 350 pence in order to raise between 386 million and 422 million pounds, the figures flagged by the company when it confirmed plans to list in January.

The London listing is the latest in a flurry to hit the European market since the turn of the year, spurred on by a buoyant stock market and strong demand from investors, including file-sharing firm WeTransfer and shoe maker Dr Martens.

Funds and accounts managed by BlackRock, and Dragoneer Global Fund II have each entered into cornerstone agreements with Moonpig to subscribe for 80 million pounds and 50 million pounds of shares respectively.

Among the sellers are a host of private equity firms including GoldPoint Partners and Exponent, as well as Hampshire County Council, the bookrunners, Citi and JPMorgan, said in a note.

(Reporting by Simon Jessop; Editing by Rachel Armstrong)


Copyright (2021) Thomson Reuters. This article was written by Simon Jessop from Reuters and was legally licensed through the Industry Dive publisher network. Please direct all licensing questions to legal@industrydive.com.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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