Jessops float stock market
The group, which also unveiled a steady rise in same-store sales, said the indicated range for the sale of its shares was to pence, giving it a market value of up to m. The proceeds of the listing will be used to repay debt and expenses, Jessops added.
Earlier this month, Jessops said it planned to go public after several years of strong sales growth driven by the boom in digital cameras. The firm was set up in Leicester in and operated as a family business until July , when it was acquired in a management buy-out. These days it operates more than stores nationally, including two in Edinburgh, and employs around people.
It also sells a full line-up of photographic goods online, and through mail order and telesales. Announcing details of the initial public offering, chief executive Derek Hine said: Flotation will help us achieve these aims and we look forward to and beyond with confidence.
It also named Gavin Simonds as its new chairman, replacing Tim Brookes who will leave at the time of the flotation to make way for independent, non-executive directors.
A flagging market for IPOs was given a boost last month by the successful listing of car insurance heavyweight Admiral after a number of firms either shelved their offerings or were forced to cut the price at which they sold shares. The company also issued a trading statement, highlighting an estimated 6. Meanwhile, total turnover is expected to have risen to m, from m last time round, generating underlying earnings before interest, tax and amortisation Ebita of By registering you are agreeing to the terms and conditions.
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Jessops to float on stock market | Business | The Guardian
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Jessop pulls yet another float - Telegraph
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Digital boom sparks Jessops float | Business | The Guardian
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