Online greetings card specialist and technology platform Moonpig has confirmed its intention to float.
Moonpig expects to list on the London Stock Exchange next month. The price will be determined following book-building but it is thought that the retailer could be valued at as much as £1bn.
The IPO will comprise a secondary offer of shares by existing investors and new shares in a primary offer. The latter is expected to raise gross proceeds of £20m.
Moonpig Group chief executive Nickyl Raithatha said: “As leaders of a market undergoing an accelerating shift online, we’re delighted to bring Moonpig Group to the public market.
“Our data-powered technology platform makes it incredibly easy for our customers to create more special moments for the people they care about. With our curated gifts and personalised cards, high-speed logistics and unique predictive insights into gifting intent, we make the art of remembering, choosing and creating the most thoughtful card and gift as effortless as possible.
“As the market-leading platform, with a strong track record, and a huge opportunity to grow, we are confident about our decision to become a publicly traded business.”
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