Seraphine valued at 150.2 million pounds
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Following the intention to float announcement on June 24, 2021, Seraphine Group plc has revealed the pricing of its initial public offering (IPO) at 295 pence per ordinary share.
Based on the offer price, the UK maternity and nursing brand’s market capitalisation will be approximately 150.2 million pounds.
“We are absolutely delighted to be starting our journey as a public company by joining the main market of the London Stock Exchange, raising our profile and providing us with the platform to achieve our international growth plans,” said Seraphine Group CEO David N Williams in a statement.
Price set for Seraphine IPO
Seraphine said that the offer comprises 20,677,011 new shares issued by the company to raise gross proceeds of approximately 61 million pounds and 4,931,278 sale shares being sold by certain existing shareholders, equating to a total offer size of approximately 75.5 million pounds.
It comes after the company was acquired in a management buyout in 2020 led by tech and consumer growth investor Mayfair Equity Partners.
Mayfair acquired the company from Bridgepoint Growth and entrepreneur founder Cécile Reinaud who launched the brand back in 2002 as a boutique store in Kensington, London.
The company now sells across 127 countries around the world and has flagships in the UK, Europe and the US.