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Bloomberg
Online greeting-card retailer Moonpig Group Plc and its shareholders plan to raise as much as 384 million pounds ($524 million) in an initial public offering in London, part of a rush of European companies looking to capitalise on robust stock markets and pandemic-fuelled sales growth.
Moonpig is marketing as many as 113 million shares at 310 pence to 350 pence apiece, according to terms seen on Tuesday by Bloomberg News. The sale could value the company at 1 billion pounds to
1.2 billion pounds after the IPO.
The bulk of the proceeds, up to 364 million pounds, will go to selling shareholders including Exponent Private Equity Partners. The company, which owns the Moonpig brand in the UK and Greetz in the Netherlands, is raising 20 million pounds in the offering to pay down debt.
The deal comes amid a resurgence in IPO activity in London.
The offer period will run through February 2, with the new stock slated to start trading the next day on the London Stock Exchange.