Exponent, Blackrock, and Dragoneer Global Fund Invest in Greeting Card Retailer’s IPO
- Moonpig confirms £1.2bn stock market float
- Exponent to sell over 25% of the company
- Blackrock and Dragoneer Global Fund commit to buying £130m worth of shares each
- Sales surge to £156m in six months from £173m in previous year
- CEO Nickyl Raintatha confident about the decision to go public
Moonpig, the online greetings cards and gifts retailer, has confirmed plans for a £1.2bn float on the London Stock Exchange. Exponent, the private equity firm that bought Moonpig in 2016, is set to sell over 25% of the company. Fund manager Blackrock and tech investor Dragoneer Global Fund have committed to buying a combined £130m worth of shares each. The company’s revenue for the six months to October 2020 surged to £156m, almost doubling the previous year’s £173m. CEO Nickyl Raintatha attributed the success to its ‘unique predictive insights into gifting intent’ and ‘effortless customer experience’. Moonpig is set to publish a prospectus next week with further details.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Moonpig’s plans for a £1.2bn float on the London stock exchange, the involvement of Exponent, Blackrock, and Dragoneer Global Fund, the increase in sales due to online shopping, and the CEO’s comments on the company’s success. It also mentions the planned publication of a prospectus with more details.
Noise Level: 3
Noise Justification: The article provides relevant information about Moonpig’s plans for a £1.2bn float on the London stock exchange and highlights the factors contributing to its success, such as online shopping trends and unique predictive insights into gifting intent. It also mentions key executives’ payouts upon successful completion. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: London Stock Exchange
Financial Rating Justification: The article discusses Moonpig’s £1.2bn float on the London Stock Exchange, which will impact financial markets as investors buy shares in the company and its sales have increased during the pandemic due to the shift towards online shopping.
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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