Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Business

Bumper demand for Dr Martens IPO values it at more than $5 billion

Published by linker 5

Posted on January 29, 2021

Featured image for article about Business

LONDON (Reuters) – Classic boot brand Dr. Martens said it had priced its initial public offering at 370 pence a share, giving it a market capitalisation of 3.7 billion pounds ($5.08 billion) when it starts trading later on Friday.

Alongside an initial 350 million shares, the company said a further 52.5 million shares would be made available in an over-allotment option, following heavy demand that saw the offer eight times oversubscribed, it said in a statement.

The listing will bring home a huge profit for majority owners Permira, which bought Dr. Martens in 2014 for just 380 million euros ($460.10 million).

(Reporting by Simon Jessop)