Dr. The Martens are considering an initial public offering on the London Stock Exchange, as owner Permira Holdings has tried to sell a stake in the prestigious British bootmaker amid the stock markets.
According to the company, there are no plans to raise money in the IPO The statement was released on Monday.
Paramira started Dr. Working with consultants in mid-2019 on ways to land martens and Attracted interest from suitors including rival private equity firms Carlyle Group, Bloomberg News reported at the time. Those discussions did not result in compromise and Permira The plan to exit its investment is said to have been revived last year.
Strong equity markets are making IPO an attractive exit option once again, with the benchmark FTSE 100 index posting The best start for a year on record. Investors are accumulating in UK equities, helped by the long-awaited Brexit deal and global growth optimism. Dr. Martens is the third company to plan for a London listing in two weeks.
Since paying 380 million euros ($ 463 million) for the bootmaker in 2014, Paramira grew the brand’s global presence, opened new stores and expanded its e-commerce offer.
Dr. At least 25% of Martens’ share capital will be available for trading after listing, the company said on Monday, hoping to qualify for inclusion in the FTSE UK index. Further 15% will be made available in the over-allotment option.
Dr. Martens posted an 18% year-over-year increase in group revenue to £ 318.2 million ($ 430 million), ending September 30 in six months, while earnings before interest, tax, depreciation and amortization increased by 30%. Increased to 86% million. In that period, according to the statement.
Goldman Sachs Group Inc. and Morgan Stanley is the joint global coordinator, while Barclays PLC, Bofa Securities, HSBC Holdings plc and Royal Bank of Canada will be joint bookrunners in the offering event. Lazard & Co. is the company’s financial advisor.