Stan Laurent, CEO of the company behind greeting cards etailer Moonpig.com, has been waiting more than a year for the right time to list on the London Stock Exchange. Now several private equity firms are circling Photobox, which means he could change his mind about floating altogether.
It is understood that Photobox, which also owns PaperShaker, Sticky9 and Hoffman, hired advisers at Goldman Sachs to run an auction that could see it bring home between £400m and £450m, despite Laurent’s hopes for a listing.
Last year JP Morgan, Jefferies and Numis were hired to consider a possible £500m flotation and last month the business hired former eBay Europe boss Douglas MaCallum as non-executive chairman, boosting the expectation that an IPO would go ahead.
Laurent has previously outlined that he is aiming for a £600m valuation target.