// Owners of The Very Group draft in Morgan Stanley, UBS and Barclays as the co-ordinators of an IPO
// The Very Group’s stock market launch could happen next year
// Follows news of a £575m fundraise and hiring STJ Advisors to explore ownership options
A trio of investment banks have reportedly been drafted in by the owners of The Very Group to help steer the online retail firm’s £4 billion stock market flotation.
According to Sky News, the Barclay brothers have picked Morgan Stanley, UBS and Barclays as the co-ordinators of an initial public offering (IPO) that could take place next year.
The news comes just days after The Very Group, which owns online retailers Littlewoods and Very, raised £575 million through a bond issue to help reorganise its balance sheet.
READ MORE:
- The Very Group raises £575m through bond issue
- The Very Group to start paying dividends after 4-year pause
- Very Group eyes stock market float
In addition, last month the Barclay brothers appointed advisory firm STJ Advisors to explore ownership options for The Very Group.
STJ Advisors works with companies ahead of public listings.
The Barclay brothers have previously reviewed the ownership structure of The Very Group but this was the first time advisors were appointed.
A listing on the London Stock Exchange’s junior AIM market would be a likely scenario for the online retailer.
Should an IPO eventuate, it would mark the first time the Barclays brothers have taken one of their flagship businesses to the stock market.
The Very Group has been owned by the Barclay family for almost 20 years.
The Barclay family, also owns The Daily Telegraph newspaper and are owners of London’s Ritz Hotel.
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