Kate Middleton’s favourite maternity brand gears up for £61m IPO
Seraphine, known for being Kate Middleton’s go-to maternity brand, is gearing up for a £61m float on the London Stock Exchange.
The group, which will float on the main market of the LSE and is expected to IPO next month, intends to use approximately £16m of proceeds to repay its existing term loan and to pay costs associated with the float.
The remaining £45m will be used to repay Seraphine’s loan notes held by certain existing shareholders in the company.
Around 50 per cent of the company’s capital will be issued as part of the IPO.
The brand is reportedly known for being the Dutchess of Cambridge’s go-to maternity brand as she was spotted wearing Seraphine throughout all three of her pregnancies.
Seraphine CEO David Williams said: “We are extremely excited about the prospect of listing and strongly feel that now is the right time for the business to IPO.
“The ITF announcement marks the next stage in our journey towards being a publicly listed company. Listing will give us the opportunity to further the group’s reach and continue to grow our presence and product offer in the highly resilient and under-competed maternity and nursing wear market.
“The opportunities for the business are considerable, with plenty of the global market still to go for.”