Moonpig confirms its intention to float

Moonpig confirms its intention to float

After announcing plans to go public on 12 January 2021, leading online greeting card and gifting platform, Moonpig Group plc, confirmed its intention to float on 19 January 2021. The company intends to apply for admission of its shares to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange (LSE)'s Main Market. The offer will be comprised of a sale of existing shares and an offer of new shares expected to raise gross proceeds of £20 million. Admission to trading is likely to take place in February 2021.

The news follows the announcement by British bootmaker, Dr. Martens, confirming its intention to undertake an IPO and seek admission of its shares to the Main Market of the LSE. The listing presents an excellent opportunity for the business to grow following its increased success in the past year, which it has attributed to a strong online presence.  Both potential IPOs are examples of companies which have performed well under tumultuous economic conditions, hinting that e-commerce is expected to flourish in the increasingly virtual environment accelerated by the coronavirus (COVID-19) pandemic. For more information on this story, see: Dr. Martens kick starts the new year announcing its intention to float on Main Market of the LSE.

Both companies have applied for admission to the premium listing segment, in contrast to the findings in our Market Tracker trend update: IPOs in Q3 2020, in which we reported that standard listings had increased in popularity over 2019 and 2020. Market Tracker will look at this in more detail in our upcoming Equity Capital Markets trend report, which reviews both IPO and secondary offering activity during 2020.

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