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 Hendersons' Kerley: investing in Marmite-like China

Hendersons' Kerley: investing in Marmite-like China

Citywire A-rated manager sees higher quality growth originating from China's current reforms.

Play Oil slump opportunities, Japanese recession & a UK bank conundrum

Oil slump opportunities, Japanese recession & a UK bank conundrum

Investment Pulse this week looks at further challenges for the British banking sector, Japan's return to recession and the continuing weakness of brent crude.

Play JPMAM's Georgina Brittain: the best opportunities in mid caps

JPMAM's Georgina Brittain: the best opportunities in mid caps

Brittain discusses where she sees opportunities in mid caps despite rising valuations.

Your Business: Cover Star Club

Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

Wealth Manager on Twitter