Made.com Group Plc (LON: MADE) has set an IPO price of 200 pence per share which values ​​the designer furniture retailer at £ 775million.

The chic sofa and table seller starts trading on the main market of the London Stock Exchange on Wednesday.

The offering includes 50million new shares, raising £ 100million, and 46.9million shares for sale by existing shareholders for a total offering size of £ 193million.

An additional 14.5 million shares will be available by certain selling shareholders under the over-allotment option, which would bring the total offering to 111.5 million shares in total and 29% of the company.

After admission, the group’s issued share capital will be 387.7 million shares.

“Our successful experience in the UK and internationally has been made possible by the foundations we have built over the past eleven years – a unique combination of a well-recognized brand, an exclusive platform focused on data and a tailor-made, vertical integrated supply chain connecting our network of designers, artists and collaborators to our customers, ”said Philippe Chainieux, CEO of Made.

“A listing in London, where the company was founded, will allow us to accelerate our growth as we lead the development of the online furniture and home furnishings market as it evolves online, both in the UK and internationally. “

The cash will be used to accelerate its growth in existing markets, improve service by reducing the lead times offered to customers, develop its range of household items and give the group greater flexibility in terms of working capital.

Founded in 2010, Made promotes itself as “the leading digitally native home lifestyle brand”. It sells its products in UK, Germany, Switzerland, Austria, France, Belgium, Spain and the Netherlands through its e-commerce platform.

In the first quarter of this year, around 48% of gross sales were generated by orders outside the UK.

Sales were up 63% from the previous quarter, with growth in the homeware division outpacing that of the furniture division.

As of 2015, UK gross sales grew at a compound annualized growth rate (CAGR) of 28%, from £ 48million to £ 165million in 2020. Continental Europe sales increased increased at a CAGR of 49% over the same period, from £ 21million to £ sterling. 150 million.



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