Fashion retailer SuperGroup expects to close its IPO bookbuilding within 24 hours and the offer is likely to be oversubscribed, Retail Week has learned.
Sources familiar with the situation said conclusion of the bookbuilding among institutional investors is imminent. Retail investors will also have the chance to buy shares and can register their interest on the retailer’s website.
A successful float will be taken as good news by other retailers considering IPOs following New Look’s decision to postpone its own plans to list. However the group has particular characteristics, such as an absence of debt, which others may not share.
In the 12 months to January 3, SuperGroup’s sales rose 95% to £119m following rapid growth.
The float will allow directors of the business, including co-founder and chief executive Julian Dunkerton, to realise cash and provide funds to expand the business.