{"id":109946,"date":"2021-01-24T13:18:34","date_gmt":"2021-01-24T13:18:34","guid":{"rendered":"https:\/\/precoinnews.com\/?p=109946"},"modified":"2021-01-24T13:18:34","modified_gmt":"2021-01-24T13:18:34","slug":"dr-martens-set-to-go-public-announce-cornerstone-investors","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/dr-martens-set-to-go-public-announce-cornerstone-investors\/","title":{"rendered":"Dr. Martens Set to Go Public, Announce Cornerstone Investors"},"content":{"rendered":"
Iconic British bootmaker Dr. Martens is expected to begin an initial share sale on Monday that could value it in excess of 3 billion pounds ($4.1 billion), a person with knowledge of the matter said.<\/p>\n
The company, which is owned by Permira Holdings, is set to say it\u2019s secured cornerstone investors as it publishes a prospectus for the share sale, according to the person. The Sunday Times reported the start of the sale earlier.<\/p>\n
Dr. Martens Said to Weigh Seeking GBP4b Valuation in London IPO<\/p>\n
Since paying 380 million euros for the bootmaker in 2014, Permira has increased the brand\u2019s global presence, opening new stores and expanding its e-commerce offering.<\/p>\n
Rising equity markets are making IPOs an attractive exit option once again with plans to list in London off to a strong start this year. Investors are piling into U.K. equities, helped by a long-awaited Brexit deal and optimism that the rollout of Covid-19 vaccines will help spur economic growth later in the year.<\/p>\n
Dr. Martens has joined online card retailer Moonpig Group Plc and renewable power investment manager Foresight Group, among others, in planning London listings.<\/p>\n