LONDON (Reuters) - Online greeting card retailer Moonpig priced its London initial public offering (IPO) on Tuesday, valuing the company at around 1.2 billion pounds ($1.64 billion) and paving the way for other e-commerce companies to follow.
The deal, the second largest UK listing this year after Dr. Martens’ debut last week, sees the company sell around 5.7 million new shares and existing shareholders sell 134.6 million shares at 350 pence each.
This sets the total deal size at 491.2 million pounds, representing 41% of Moonpig’s issued share capital on admission.
Like many other online retailers, Moonpig has seen its sales soar during the pandemic, and is among the first of several companies eyeing a stock market listing in Europe this year.
In London alone, Deliveroo and Darktrace are expected to complete deals later this year, while in Europe, Germany’s Auto1 is also on track for a listing.
A number of other firms such as WeTransfer in Amsterdam and Trustly in Stockholm also have IPO aspirations, boosted by increasing investor appetite for stocks showing strong potential for growth in an uncertain global economic environment.
Citi and JPMorgan were joint global coordinators and joint bookrunners on the Moonpig offering, along with HSBC, Jefferies and Numis.
Moonpig’s selling shareholders include a host of private equity firms including GoldPoint Partners and Exponent, as well as Hampshire County Council.
Reporting by Abhinav Ramnarayan, editing by Sinead Cruise
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February 02, 2021 at 02:48PM
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Card retailer Moonpig prices London IPO at 350 pence-a-share - Reuters
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