Ocado beefs up board for IPO March 21, 2010 Online retailer Ocado will boost its plans to float today when it announces it has reinforced its board with David Grigson, former finance director of Reuters and Ruth Anderson, the former vice-chairman of KPMG UK as non-executive directors. The 10-year-old internet firm will also say gross sales grew by a quarter to £427.3m in the [...]
Ocado confident on float March 17, 2010 ONLINE grocer Ocado is looking at a summer flotation, confident its rapid sales growth and expanding marketplace will win over investors despite jittery equity markets and its lack of profit. Finance director Andrew Bracey said proceeds from selling new shares would be used mainly for growth, such as building a second centre for processing customer [...]
Merlin’s magical results mean IPO could happen March 9, 2010 Merlin Entertainments is ready to make a sensational U-turn and resurrect its shelved flotation plans. The change of heart follows the release of tub thumping results by the London Eye owner, with Ebitda shooting up 16.6 per cent last year to £238.6m. Merlin’s revenue for 2009 rose 16.1 per cent to £769m, translating to 9.4 [...]
Supergroup will go ahead with float February 28, 2010 SUPERGROUP insists its flotation later this month will go ahead despite the torrid times experienced by other firms planning IPOs this year. The owner of Superdry and Cult Clothing brands will only achieve the lower end of its initial valuation, according to analysts, however. The company hopes to raise £125m through the offering, valuing the [...]
Ocado denies problem with upcoming IPO February 15, 2010 ONLINE groceries firm Ocado hit back last night at reports its £1.2bn initial public offering (IPO) was under threat. The shadow of doubt was cast after reports emerged Waitrose is planning to launch a rival delivery service in central London. But Ocado chief financial officer Andrew Bracey told City A.M. the firms are not in [...]
New Look postpones IPO February 12, 2010 HIGH Street fashion retailer New Look has shelved its planned initial public offering (IPO) making it the third private equity-backed firm in as many days to abandon a flotation in turbulent financial markets. The decision to pull back from £1.6bn offering will cast a shadow over other IPO hopefuls, like travel firm Amadeus and online [...]
IPO market shaken as second firm quits February 11, 2010 The IPO market suffered another blow yesterday when Merlin Entertainments postponed its £2bn flotation. The industry was still reeling from the withdrawal of Travelport’s £2bn listing on Tuesday after it failed to secure enough subscriptions. The developments rocked the hopes of a string of firms planning to list in the coming months. Analysts say furniture [...]
Travelport scraps its £2bn float February 10, 2010 THE biggest stock market flotation in two years was sensationally pulled last night, in a move that will send tremors through the IPO market. The shock announcement came after the firm had already slashed the price range from 210p to 290p – valuing the company at £2.16bn – to just 180p to 190p. But a [...]
Ocado bullish about spring public listing February 7, 2010 ONLINE grocer Ocado will launch an audacious IPO in May which could value the company at £1.2bn. The firm, which delivers Waitrose food to doorsteps, hopes to raise an initial £160m from the flotation. This will wipe out its £55m debts and provide it with £100m to build a new distribution centre. A source close [...]
Waitrose sales jump by 15 per cent February 5, 2010 WAITROSE sales jumped by 15 per cent in the second half of last year. The figures mean Waitrose is fastest growing supermarket chain in Britain and come as Ocado – the online grocer that delivers Waitrose products – set a new record for the number of deliveries in a single day, of 17,500. New M&S [...]