Made.com explores £500m stock floatation
According to Sky News, the online retailer is in talks with banks about advising on strategic options, which will include an initial public offering to take place in the coming months
Made.com is exploring options for a potential stock market floatation worth £500m, according to Sky News.
The online retailer is reportedly in talks with banks about advising on strategic options, which will include an initial public offering to take place in the coming months.
Backed by Brent Hoberman, co-founder of Lastminute.com, the furniture company is yet to make a formal decision about whether to pursue a formal listing.
An insider said Made.com’s impressive financial performance over the past year would provide solid foundations for a potential floatation.
The retailer’s most recent financial results showed a 22% increase in sales to £212m in 2019, with insiders saying revenues have accelerated further during the pandemic.
In December, the company announced that it was handing share options worth around £10,000 to every member of its 650-man workforce.
A spokesman for Made.com said: “The rapid acceleration in the shift to online shopping, with three to five years change in the past 12 months, meant that 2020 was extremely successful for Made, despite the challenging environment.
“As we move into 2021, we are exploring the best way to ensure that the business has all the resources required to build on our momentum and seize this unique moment of opportunity.”
