Following the announcement by Jimmy Choo PLC on 23 September 2014 of its intention to proceed with an initial public offering, the Company today announces the successful pricing of its IPO. Pierre Denis, Chief Executive Officer of Jimmy Choo, said “We are delighted with our successful IPO. Today‘s announcement marks an important milestone for Jimmy Choo and recognises not only the appeal of our high quality products but also confidence in our ability to outperform the luxury shoe market. We welcome our new shareholders and look forward to sharing with them the continuing momentum of this exceptional brand.”
The offer price has been set at 140 pence per share. Based on the Offer Price, the total market capitalisation of Jimmy Choo at the commencement of conditional dealings will be £545.6 million. The new Offer comprises 100,923,674 shares, representing 25.9% of Jimmy Choo‘s share capital.
Gross proceeds of £141 million from the Offer will be received by JAB Luxury GmbH (“JAB Luxury”). Whilst gross proceeds of £34,349 from the Offer will be received by the Company‘s employee benefit trust (the “EBT”) on behalf of certain employees.
JAB Luxury has granted an over-allotment option in respect of 15,138,551. If the Over-allotment Option is exercised in full, the incremental gross proceeds raised by JAB Luxury would be approximately £21 million. JAB Luxury will hold 70.2% of Jimmy Choo‘s share capital (assuming no exercise of the Over-allotment Option).
The Directors and Senior Managers of Jimmy Choo will hold 2.0% of Jimmy Choo‘s share capital. Certain other employees of Jimmy Choo, JAB Luxury and its parent, who applied for Shares in the Offer, have been allocated 624,612 shares in the Offer, corresponding to £0.9 million. Conditional dealings in the Shares will commence on the London Stock Exchange at 8.00 a.m. today (17 October 2014) under the ticker CHOO.