Clothing & Shoes

Maternity brand Seraphine considering float on LSE

Seraphine said it has a track record of ‘strong financial performance’, with sales growing at a CAGR of 22% during the period from FY14 to FY21

Maternity brand Seraphine has confirmed it is considering plans to float on the London Stock Exchange’s main market for listed securities.

The company, which was founded in 2002, has submitted an application via its holding company, Kensington Topco Limited, for approval to the FCA.

The group, which will be known as Seraphine Group plc, is considering an initial public application for the admission of the Shares to the premium listing segment of the Official List of the FCA.

Seraphine said it has a track record of “strong financial performance”, with sales growing at a CAGR of 22% during the period from FY14 to FY21.

It said this growth has been driven by the “successful expansion” into new geographies and the “rapid growth” of the group’s own digital platform.

Seraphine revealed it is targeting a free float of at least 25% of the company’s issued share capital immediately following Admission.

The group will use the funds from the flotation to support the group’s growth plans by increasing the group’s public profile and brand awareness, particularly in international markets.

David N Williams, CEO of Seraphine, said: “Today marks a truly exciting moment for Seraphine as we embark on the next stage of our growth journey. The announcement of our expected intention to float reflects the hard work and dedication of the team and the strength of our brand.

“Since our origins in 2002, we have grown significantly and expanded in to over 120 countries all over the world. An IPO gives us the momentum to grow both our own digital platform and increase our customer reach by expanding our digital partnerships while building on existing strong fundamentals.”

He added: “We would not be at this exciting next phase without the support of the people behind Seraphine so above all I would like to thank the Seraphine team for their continued hard work and dedication which has enabled Seraphine to transform and remain a leader over the years.

“It is also important to thank the group’s founder, Cécile Reinaud, as without her determination and hard work, we would not be announcing this milestone today. We have a very exciting future ahead of us both as a listed company and also as we continue to build and expand the Seraphine brand. We are looking forward to our future as a plc and the opportunities this will bring for everyone involved with Seraphine.”

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