Online Card Retailer Moonpig Joins Public Market

  • Moonpig enters London Stock Exchange with a £1.2bn valuation
  • 350 pence per share pricing in initial public offering
  • Raises gross proceeds of approximately £20m from new shares
  • Existing shares sold for £491.2m, representing 41% of issued share capital
  • Additional 14 million shares available by principal selling shareholders
  • CEO Nickyl Raithatha: ‘perfect time’ to enter public market

Moonpig, an online greeting card retailer, has made its debut on the London Stock Exchange with a market capitalization of £1.2 billion after successfully pricing its initial public offering at 350 pence per share. The flotation includes 5.7 million new shares issued to raise gross proceeds of approximately £20 million and 134.6 million existing shares sold by existing shareholders, equating to a total offer of £491.2 million. This represents 41% of Moonpig’s issued share capital upon admission. Additionally, an extra 14 million shares are being made available by principal selling shareholders pursuant to the over-allotment option. CEO Nickyl Raithatha expressed his pride in joining the main market and thanked the group for their hard work. He stated that listing on the London Stock Exchange is a significant milestone, providing new opportunities for the business and making gifting more effortless for millions of people across the UK and internationally. Raithatha also believes this is the perfect time to bring Moonpig to the public market, expressing excitement about its future prospects.

Factuality Level: 10
Factuality Justification: The article provides accurate information about Moonpig’s IPO, including details such as share prices, market capitalization, and the CEO’s statement on the listing.
Noise Level: 2
Noise Justification: The article provides relevant information about Moonpig’s IPO, including details on share pricing, capitalization, and CEO’s statement. It is focused on the topic without any unnecessary filler content or misleading information.
Financial Relevance: Yes
Financial Markets Impacted: London Stock Exchange
Financial Rating Justification: The article discusses Moonpig’s IPO on the London Stock Exchange, which impacts financial markets by raising gross proceeds of £20m and affecting the company’s share capital.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk