Iconic Shoe Retailer Set for LSE Debut
- Dr. Martens to float on London Stock Exchange in early February 2021
- Admission expected to occur in early February 2021
- IngreLux S.àr.l., a Luxembourg company owned by funds advised by Permira, will sell shares
- At least 25% free float of issued share capital targeted
- Shares representing up to 15% available through over-allotment option
- Group engages Goldman Sachs International and Morgan Stanley as joint global coordinators
- Barclays, HSBC, Merrill Lynch International, and RBC Europe act as joint bookrunners
- Lazard and Co to advise the company
Dr. Martens, the iconic shoe retailer, has announced its intention to float on the London Stock Exchange in early February 2021. The company plans to apply for admission to the premium listing segment of the Financial Conduct Authority (FCA). IngreLux S.àr.l., a Luxembourg firm owned by Permira funds, will sell existing shares along with other current shareholders. Following admission, Dr. Martens aims for at least 25% free float of issued share capital and eligibility for FTSE UK Page 2 indices. An over-allotment option may make up to 15% more shares available. Goldman Sachs International, Morgan Stanley, Barclays, HSBC, Merrill Lynch International, and RBC Europe will act as joint bookrunners, while Lazard and Co will advise the company.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Dr. Martens’ plans to float on the London Stock Exchange, including details about the share offer, expected free float percentage, involved parties, and financial advisers.
Noise Level: 3
Noise Justification: The article provides relevant information about Dr. Martens’ plans to float on the London Stock Exchange and details of the share offering process, including the involvement of various financial institutions. However, it lacks analysis or exploration of long-term trends or consequences, and does not offer actionable insights for readers.
Financial Relevance: Yes
Financial Markets Impacted: London Stock Exchange, financial markets in general
Financial Rating Justification: The article discusses Dr. Martens’ plans to float on the London Stock Exchange and the involvement of various financial institutions as coordinators and bookrunners for the offer, which impacts the financial markets and the company itself.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in this article.
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