// Exponent Private Equity is talking to bankers about options for Moonpig that include a public listing
// No decision has been made yet but it’s thought talks with investment banks are in early stages
// Moonpig said it gained 1 million new customers in the first 2 months of lockdown this year
Online greeting cards and gifts retailer Moonpig is reportedly looking at the possibility of entering the stock market.
According to Sky News, discussions with investment banks are at an early stage but a decision has not yet been made by parent company Exponent Private Equity.
Options being explored reportedly include a public listing.
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Moonpig has seen sales skyrocket 44 per cent year-on-year to £172.8 million, boosted by a huge shift to online shopping as consumers stayed home amid the Covid-19 pandemic.
It also booked a whopping 137 per cent increase in pre-tax profits to £33 million.
“As a high growth company we constantly evaluate our funding options, and regularly meet with advisers on this subject,” a Moonpig spokesperson told Sky News.
The online retailer said it added 1 million new customers in the first two months of the nationwide lockdown period, and has gained market share from high street rivals such as Clintons.
Exponent Private Equity has owned Moonpig since 2016.
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