Made.com has confirmed its intention to float on the London Stock Exchange on 21 June 2021 with an offer price of £775.3m.
The online furniture retailer first announced its plans to debut on the market last month with the latest announcement revealing that the IPO has been set at 200 pence per share.
The company will initially create 50 million new shares which will in turn raise gross proceeds of £100m with a further £193.8m worth of existing shares to be sold by shareholders.
In addition, a further 14.5 million shares are being made available by the selling of “shareholders pursuant to the over-allotment option”, which would increase the number of shares in the global offer to 111.5 million in total and by 29% of the company’s issued share capital at the time of admission.
Philippe Chainieux, CEO, MADE, said: “I would like to thank everyone who has been a part of our growth journey, especially our employees, as we deliver on our vision of becoming the leading home destination in Europe for digital natives.
“Our successful track record in the UK and internationally has been made possible with the foundations that we have built over the last eleven years.”
He added: “A listing in London, where the business was founded, will enable us to accelerate our growth as we lead the development of the online furniture and homewares market as it moves online, both in the UK and internationally.”