// Moonpig plans £1 billion stock market flotation
// Citi and JP Morgan are leading the listing
// Moonpig’s owners Exponent Private Equity may announce the flotation in the next fortnight
Moonpig has reportedly planned a £1 billion stock market flotation after the Covid-19 pandemic led to a rise in sales and profits.
The online greeting cards retailer appointed investment banks last autumn to help it evaluate options for the business.
Citi and JP Morgan are leading the listing, which will value the company at more than £1 billion, Sky News reported.
READ MORE: Moonpig mulls stock market flotation
Moonpig’s owners Exponent Private Equity may announce in the next fortnight that the company will pursue an IPO in London.
During the first two months of the UK-wide lockdown, Moonpig said it added one million customers to its platform.
It also trades in the Netherlands under the Greetz brand.
Moonpig delivered 45 million cards in 2020 in the UK and the Netherlands, bought by 12 million customers, with the UK market representing around two-thirds of its business.
A flotation of Moonpig would entail a return to the stock market for Kate Swann, the former WHSmith and SSP Group chief executive.