London IPOs firmly in fashion as Trustpilot, In The Style announce plans to float

0 28

London’s IPOs keep coming as two tech companies have announced plans to float on Monday.

Online review platform Trustpilot is targeting a main market listing which is reported to value the firm at £1bn.

It plans to raise gross proceeds of US$50mln to support its growth strategy and repay debt.

Following admission, it would free float of at least 25% of issued share capital and expects to be eligible to join the FTSE UK indices.

Founded in 2007 by chief executive Peter Holten Mühlmann, it said it is eyeing a US$6.3bn market opportunity in the UK, the US and Europe as consumers often seek other people’s opinions before making online purchases.

As of December 31, it hosted 120mln reviews of over 529,000 domains.

Remaining in the theme of e-commerce, budget fashion retailer In The Style is looking to join AIM on March 17.

The eight-year-old online retailer, which mostly caters to young women, would be valued at £100mln, according to the Evening Standard.

Unlike other platforms, it sets up long-term agreements with influencers to collaboratively design, develop and promote branded fashion collections, as a strategy to drive up sales and engagement.

It’s planning to hire two new, independent non-executive directors, Nancy Cruickshank and Adam Bellamy, once admitted to the junior market.

Cruickshank currently holds the same role at FTSE 100 bookie Flutter Entertainment (LON:FLTR) and Polish online marketplace Allegro Group, and Bellamy at bowling operator Ten Entertainment (LON:TEG) and restaurateur Loungers (LON:LGRS).

Leave A Reply

Your email address will not be published.