Potential IPO Follows Best Christmas Period for Online Retailer
- Barclay family considering £3bn flotation of Very Group
- UBS likely to be involved in the process
- Very Group reports best Christmas sales on record
- First time Barclay empire enters public equity market if flotation goes ahead
The Barclay family is considering a £3 billion flotation of online retailer Very Group, according to Sky News. The billionaire family, which owns the business, is in the early stages of exploring plans for the flotation to capitalize on investor interest in digitally-led retailers. Insiders say the move is now under more serious contemplation following the death of Sir David Barclay last week. UBS is likely to be involved in the process, but it’s unclear if Very’s board has formally appointed bankers to advise on a public listing. If the flotation proceeds, it will mark the first time the Barclay empire enters the public equity market. Very Group recently reported its best Christmas sales ever, with a 25.2% year-on-year increase in retail sales from 27 November to 25 December 2020. The surge in sales was driven by Covid-19 pushing consumers online and lockdown restrictions affecting physical stores. CEO Henry Birch credits the strong performance to the company’s flexible payment options, multi-category offerings, and resilient business model.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the potential flotation of Very Group by the Barclay family, the involvement of UBS, and the increase in sales during the Christmas period due to Covid-19 restrictions on physical retail stores. It also includes a quote from Henry Birch, CEO of The Very Group, discussing their performance and future outlook.
Noise Level: 3
Noise Justification: The article provides relevant information about the potential flotation of Very Group by the Barclay family and its performance during the pandemic. It also includes a statement from the CEO about their future outlook. However, it could benefit from more in-depth analysis or context on the broader retail industry trends and implications.
Financial Relevance: Yes
Financial Markets Impacted: The potential flotation of Very Group could impact the financial markets as it involves a significant amount of money and may affect the stock market.
Financial Rating Justification: The article discusses the Barclay family’s consideration of a £3bn float (initial public offering) for online retailer Very Group, which could have an impact on the financial markets if it goes through. Additionally, the company reported its best recorded sales over a Christmas period due to the pandemic pushing more customers towards online shopping.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the text.
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