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Business

Moonpig eyes valuation of more than 1 billion pounds from London IPO

Published : , on

By Simon Jessop

LONDON (Reuters) – Online greetings card retailer Moonpig Group plans to raise up to 422 million pounds ($575.65 million) from an initial public offering its bookrunner said on Tuesday, in a deal that would value it at as much as 1.2 billion pounds.

The company is pricing its shares at a range of 310 pence to 350 pence in order to raise between 386 million and 422 million pounds, the figures flagged by the company when it confirmed plans to list in January.

The London listing is the latest in a flurry to hit the European market since the turn of the year, spurred on by a buoyant stock market and strong demand from investors, including file-sharing firm WeTransfer and shoe maker Dr Martens.

Funds and accounts managed by BlackRock, and Dragoneer Global Fund II have each entered into cornerstone agreements with Moonpig to subscribe for 80 million pounds and 50 million pounds of shares respectively.

Among the sellers are a host of private equity firms including GoldPoint Partners and Exponent, as well as Hampshire County Council, the bookrunners, Citi and JPMorgan, said in a note.

(Reporting by Simon Jessop; Editing by Rachel Armstrong)

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

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