PRESS: Abercrombie & Kent gears up for potential float - Telegraph

(Alliance News) - Luxury travel company Abercrombie & Kent is getting ready for a potential float, according to a report from the Telegraph on Sunday.

Abercrombie & Kent is in talks with bankers about an initial public offering within 18 to 24 months, the Telegraph said. This follows a boom in luxury travel after the lifting of Covid-19 restrictions.

The report added that the firm's leadership is considering whether to list in New York, London or another European stock market.

Chief Executive Officer Cristina Levis told the Telegraph the company had not yet decided. However, she noted that New York was appealing, given the firm's US expansion as well there being a higher number of analysts covering travel businesses there.

The US is also the biggest source of revenue for the company.

Abercrombie was founded in 1962, initially offering East African safaris. It now offers a wide range of luxury trips to destinations across the globe, spanning wildlife tours, cruises, and beach holidays.

https://www.telegraph.co.uk/business/2024/09/01/luxury-travel-giant-stock-market-listing-abercrombie-kent/

The news comes as London suffers something of a new listing drought and an exodus of companies leaving for the bigger pockets of the Big Apple.

By Elizabeth Winter, Alliance News deputy news editor, Global services

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.