• Home
  • News
  • Business
  • Dr. Martens reveals London IPO plans

Dr. Martens reveals London IPO plans

By Prachi Singh

loading...

Scroll down to read more

Business

Dr. Martens Limited has announced that it is considering an initial public offering and that it intends to publish today a registration document. The company is considering applying for admission of its ordinary shares to the premium listing segment of the Official List of the FCA and to trading on the main market of the London Stock Exchange.

Commenting on the IPO plans, Paul Mason, Chairman of Dr. Martens, said in a statement: “Today marks an important milestone for Dr. Martens and is testament to the skill and hard work of our management team, as we build the business to match the scale and potential of our brand. We have made significant investment in the business over the last few years to strengthen the team, our operations and position ourselves for the next exciting stage of development, as a publicly listed company.”

Dr. Martens announces IPO plans

The company added that the offer would comprise a secondary sell-down of existing ordinary shares by IngreLux and certain other existing shareholders, immediately following admission, the company would have a free float of at least 25 percent of issued share capital and expects that it would be eligible for inclusion in the FTSE UK indices. In addition, it is expected that shares representing up to a further 15 percent of the Offer will be made available pursuant to an over-allotment option.

“The announcement of our intention to float reflects the great achievements of the Dr. Martens team and brand over the last seven years. Even more important is the significant global growth potential for Dr. Martens in the future. We have invested massively to ensure that we deliver the best digital and store experiences to connect with our wearers, and through this we are driving our long term, sustainable growth,” added Kenny Wilson, Chief Executive of Dr. Martens.

Dr. Martens sells over 11 million pairs of footwear annually in more than 60 countries. The group sells its footwear through more than 130 own retail stores as well as concessions and through a business-to-business channel encompassing a high-quality network of strategic wholesale customers, distributors and franchisees. Dr. Martens operates across three geographic regions that comprise the group’s three reporting segments: EMEA, Americas and APAC. In the twelve months ended March 31, 2020, Dr. Martens generated revenue of 672.2 million pounds and EBITDA of 184.5 million pounds with EBITDA margin of 27.4 percent.

Picture:Dr. Martens via Finsbury

Dr Martens