Online greetings card retailer Moonpig Group plans to raise up to £422m from an initial public offering its bookrunner said today, in a deal that would value it at as much as £1.2 billion.
The company is pricing its shares at a range of 310 pence to 350 pence in order to raise between £386-422m, the figures flagged by the company when it confirmed plans to list in January.
The London listing is the latest in a flurry to hit the European market since the turn of the year, spurred on by a buoyant stock market and strong demand from investors, including file-sharing firm WeTransfer and shoe maker Dr Martens.
Funds and accounts managed by BlackRock and Dragoneer Global Fund II have each entered into cornerstone agreements with Moonpig to subscribe for £80m and £50m of shares respectively.
Among the sellers are a host of private equity firms including GoldPoint Partners and Exponent, as well as Hampshire County Council, the bookrunners, Citi and JPMorgan, said in a note.
