SuperGroup will use the £125m the expected float will raise to open 20 stores and launch a marketing campaign, founder Julian Dunkerton said.
According to the Daily Mail, the young fashion retailer is pushing aheead with its stock market flotation. It said its shares would be priced at 500p each, valuing the business at £395m. Dunkerton will shrink his stake from 53% to 33% and bank £50m. The new stores will add to its portfolio of 40 shops and 54 concessions.
SuperGroup, which was last week named Emerging Retailer of the Year at the Oracle Retail Week Awards, is likely to circulate a prospectus for retail investors later this week and list at the end of this month. .
The company is debt free and doesn’t have a private equity investor anxious to make a quick exit. The offer is understood to have been one and a half times oversubscribed and will include shares specially reserved for small shareholders.