Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Pets at Home set for £1 billon IPO

Pets at Home set for £1 billon IPO

Pets at Home Group expects to raise £280 million from its IPO next month when it is set to join the £1 billion club.

The expected offer price range of the shares is set at 210p to 260p, which would value the company between £1.05 billion and £1.3 billion. The shares offered equate to a free float of betwen 25% to 40% of the issued capital.

The group said it would use the proceeds of its flotation to pay down debt and together with its new senior facilities agreement of £325 million, overall debt upon flotation will be around £275 million.

Pets at Home chief executive Nick Wood said: 'We believe the listing will provide us with the right platform for the next stage of the group's growth and development.

'We have multiple growth opportunities, including growing the number of Pets at Home stores to over 500, the roll out of Vets4Pets and the Groom Room to our customers, the further growth of our omnichannel offering and enhancing the relationship with our customers through our VIP loyalty programme.'

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 Navigating geopolitical risk with ETFs

Navigating geopolitical risk with ETFs

ETFGI’s Deborah Fuhr on how investors can use exchange-traded funds to position their portfolio.

Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Your Business: Cover Star Club

Profile: How David Esfandi is shaping Canaccord Genuity WM

Profile: How David Esfandi is shaping Canaccord Genuity WM

After six months as chief executive of Canaccord Genuity David Esfandi's ambitions are taking shape

Wealth Manager on Twitter