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FILE PHOTO: A woman walks past the window of a “Dr Martens” shoe shop amid the coronavirus disease (COVID-19) outbreak in central Madrid
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Bumper demand for Dr Martens IPO values it at more than $5 billion

Published by linker 5

Posted on January 29, 2021

1 min read
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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)

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