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Boots’ US-based parent company, Walgreens Boots Alliance, is reportedly eyeing an initial public offering (IPO) on the London Stock Exchange as the group revives plans to offload the pharmacy chain, according to Bloomberg.
The news comes after WBA abandoned Boots’ £5bn sale and its No7 beauty brand last year, having blamed global financial market conditions for buyers’ struggles to borrow enough money.
It is understood that although the company is in early talks about Boots’ future, the business has been valued at approximately £7bn.
New York Stock Exchange-listed Walgreens has a reported market value of £16bn, despite its share price falling 40% this year.
Last month, Walgreens also reached a £4.8bn deal to offload the Boots pension scheme to L&G, in a bid to simplify a possible divestiture of the business.
According to Bloomberg, the possibility of a London IPO would give the stock market a boost, after many companies in recent years have opted to either delist or debut in other markets.
Walgreens Boots Alliance has been approached for a comment.
