// Victorian Plumbing goes public as of today with £850m IPO on the AIM
// CEO Mark Radcliffe hailed the admission to AIM as a landmark day for the bathroom products retailer
Victorian Plumbing has officially launched its stock market float this morning, with a market capitalisation of approximately £850 million.
The online retailer of bathroom products confirmed the admission of its entire issued and to be issued share capital to trading on the AIM market of the London Stock Exchange.
The placing of new shares is expected to raise gross proceeds of £11.6 million for the Victorian Plumbing, while the placing of sale shares is expected to raise £285.9 million for the selling shareholders.
Victorian Plumbing founder and chief executive Mark Radcliffe hailed the admission to AIM as a landmark day for the retailer.
“The successful completion of our IPO and admission to AIM is an exciting next step on our growth journey,” he said.
“I would like to take this opportunity to thank our team for their support over the years.
“They have helped to build an incredibly strong, exciting and trusted brand together with a hard-working and innovative culture.
“We are pleased to welcome such a strong blue chip shareholder base to the register and look forward to working together on this next chapter in the company’s development.”
GCA Altium is acting as nominated adviser and financial Adviser in relation to the admission. Barclays Bank and Numis Securities are acting as joint global coordinators.