Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Pets at Home and Poundland set IPO prices

Pets at Home and Poundland set IPO prices

Pets at Home and Poundland have today set the price at which they will float on to the stock exchange.

Pets at Home’s shares will float at 245p, valuing the company at £1.2 billion, in the middle of its initial price range.

Poundland has set the price of its shares at 300p, towards the top end of its touted price range, valuing the company at £750 million. The flotation will raise £375 million and see private equity firm Warburg Pincus reduce its stake in the firm to 30%.

The initial public offering (IPO) market has been buoyant this year, particularly in retail. Bolton-based online appliance retailer AO.com, which last month floated at 285p, saw its share price surge by 33% to £378p on its first day of trading. This pushed the value of the company up to £1.2 billion.

More big deals are in the pipeline with House of Fraser and B&M also expected to come to market this year.

Pets at Home chief executive officer Nick Wood said: 'Today's announcement marks an important moment for all of us at Pets at Home. We are delighted that our initial public offering has been so well received by colleagues, institutions and retail investors alike, who have recognised that this is a unique and differentiated business with multiple opportunities for future growth.

'Pets at Home has enjoyed strong growth for over a decade and we are now ready to move on to the next stage of our development as a listed business.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

Eleanor Mahmoud goes clay shooting at the National Clay Shooting Centre with Sam Lansdowne from Thesis Asset Management

Play AA-rated Flood on gov't bonds: 'the maths doesn't add up'

AA-rated Flood on gov't bonds: 'the maths doesn't add up'

He also addresses why his Newton Multi-Asset Income fund has such a high cash weighting and why he sees renewables as such a good opportunity.

Play AAA-rated Ali: Identifying the peripheral European plays

AAA-rated Ali: Identifying the peripheral European plays

Citywire AAA-rated Tawhid Ali thinks that plenty of good stocks in the European periphery are being thrown out with the proverbial bath water.

Read More
Your Business: Cover Star Club

Profile: Brewin's Cardiff boss on the Welsh opportunity

Profile: Brewin's Cardiff boss on the Welsh opportunity

Prior to becoming head of Brewin Dolphin Cardiff, Welshman David Myrddin-Evans had only previously visited the city to watch the rugby.

Wealth Manager on Twitter