(Alliance News) - Online review platform Trustpilot AS will look to raise GBP434 million in its London float, Bloomberg reported on Tuesday.
Should Trustpilot succeed with these plans, it will mean London will have seen its biggest ever first quarter of stock market floats, Bloomberg noted.
Trustpilot shares will be offered between 250 pence and 265p, according to Bloomberg.
The initial public offering will value the company at GBP1.08 billion and trading of Trustpilot shares are expected to begin next week Tuesday.
https://www.bloomberg.com/news/articles/2021-03-16/trustpilot-holders-seek-as-much-as-600-million-in-london-ipo?utm_source=google&utm_medium=bd&cmpId=google
Trustpilot earlier in March confirmed plans for a London Main Market float, eyeing an admission in "late March".
The IPO will consist of a raise of USD50 million from new shares, which will be used by the company to pay off debt. The company has also secured commitments from investors including BlackRock Inc, FIL Investments International, Caledonia and Henderson Global Investors Ltd.
London has seen a swathe of IPOs so far in 2021. Boot maker Dr Martens PLC, online greetings cards retailer Moonpig Group PLC and asset manager Foresight Group Holdings Ltd are among those to have floated already.
Takeaway delivery firm Deliveroo PLC on Monday confirmed its plan for a London float, expecting to raise GBP1 billion.
By Eric Cunha; ericcunha@alliancenews.com
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Foresightgr (FSG)
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