Online & Digital

Moonpig valued at £1.2bn amid market debut

The online card retailer’s CEO said it was a ‘perfect time’ for Moonpig to enter the public market

Moonpig has entered the London Stock Exchange with a market capitalisation of £1.2bn, following the successful pricing of its initial public offering at 350 pence per share.

The flotation includes 5.7 million new shares issued to raise gross proceeds of approximately £20m, and 134.6 million existing shares sold by existing shareholders equating to a total offer of £491.2m.

Together this represents 41% of Moonpig’s issued share capital on admission. Immediately following admission, Moonpig’s issued share capital will be 342.1 million shares.

An additional 14 million shares are being made available by principal selling shareholders pursuant to the over-allotment option.

Nickyl Raithatha, CEO of Moonpig Group, said: “We are proud to be joining the main market of the London Stock Exchange and I would like to thank everyone at the group for their hard work. 

“Listing on the London Stock Exchange is an incredibly special milestone and will provide new opportunities for the business.” 

He added: “We are confident that Moonpig Group will continue to make gifting even more effortless for millions of people across the UK and internationally. 

“As the leaders of a market undergoing an accelerating shift to online, now is the perfect time for us to bring the company to the public market, and we are excited about Moonpig’s prospects for the future.”

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