// Seraphine market capitalisation reaches approximately £150.2m ahead of stock market float
// It confirms the successful pricing of its IPO at 295 pence per ordinary share
// Conditional dealings in Seraphine’s shares are expected to commence on the London Stock Exchange at 8am today
Seraphine has announced the successful pricing of its IPO at 295 pence per ordinary share as it prepares to float on the stock market.
Based on the share price, the online maternity retailer said its market capitalisation would be approximately £150.2 million at the commencement of conditional dealings on the main market for listed securities of the London Stock Exchange.
Seraphine said the IPO comprises 20,677,011 new shares issued by the company to raise gross proceeds of approximately £61 million, and 4,931,278 sale shares being sold by certain existing shareholders, equating to a total offer size of approximately £75.5 million.
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Immediately following admission to the London Stock Exchange, Seraphine said its issued share capital will be 50,902,011 ordinary shares.
Conditional dealings in the retailer’s shares are expected to commence on the London Stock Exchange at 8am today under the ticker “BUMP”.
“We are absolutely delighted to be starting our journey as a public company by joining the Main Market of the London Stock Exchange, raising our profile and providing us with the platform to achieve our international growth plans,” Seraphine chief executive David N Williams said.
“I am pleased with the strong level of support we received for our IPO and I would like to welcome our new shareholders to the register.
“I would like to thank the whole Seraphine team who have worked so hard to grow the business since its origins in 2002, and also our customers, who everyday trust Seraphine to support them during such an important time in their lives.
“This exciting next step in the company’s journey will see us building on our existing strong fundamentals, reaching more customers worldwide and continuing to deliver innovative designs that support the journey of motherhood.”