Poundland And Pets At Home Share Trades Begin

Written By Unknown on Kamis, 13 Maret 2014 | 00.12

Conditional trading is underway in Poundland and Pets At Home shares, with offer prices valuing the businesses at a combined total of almost £2bn.

Europe's biggest single-price retailer, Poundland, set the price of its Initial Public Offering (IPO) at 300p a share, the top of its initial price range, valuing the company at £750m.

A source has suggested the offer was 15-times over-subscribed.

Its flotation would raise £375m, the company said, and see private equity firm Warburg Pincus reduce its stake.

Poundland Store Poundland was founded in 1990 and now has 500 stores in the UK and Ireland

Poundland's shares rose more than 15% in early conditional trading while Pets At Home stock slipped just below its offer price, dealers said.

Pets at Home confirmed it was floating shares at 245p apiece, in the middle of its initial price range, giving the company a market capitalisation of £1.2bn.

The sale of 40% of the firm is expected to raise £280m to help cover its debts.

The company is mainly owned by US private equity group KKR and run by chief executive Nick Wood, a former CEO of American Golf and himself the owner of two dogs and a hamster called Snuggles.

Pets at Home Pets At Home staff applied for shares worth £1.7m on opening

He said: "Pets At Home has enjoyed strong growth for over a decade and we are now ready to move on to the next stage of our development as a listed business."

Ishaq Siddiqi, market strategist at ETX Capital, said of the flotations: "Taken together, both IPO debuts will be seen as a success, as retail investors were given the opportunity to be involved in the IPOs.

"Both these companies are consumer facing, so highly popular in the UK."

Britain's retail industry is set for a flurry of offerings this year.

AO World floated in February, while Boohoo.com, B&M and House of Fraser are also expected to come to market.

:: Watch Sky News live on television, on Sky channel 501, Virgin Media channel 602, Freeview channel 82 and Freesat channel 202.


Anda sedang membaca artikel tentang

Poundland And Pets At Home Share Trades Begin

Dengan url

http://kerjasendirianda.blogspot.com/2014/03/poundland-and-pets-at-home-share-trades.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Poundland And Pets At Home Share Trades Begin

namun jangan lupa untuk meletakkan link

Poundland And Pets At Home Share Trades Begin

sebagai sumbernya

0 komentar:

Posting Komentar

techieblogger.com Techie Blogger Techie Blogger