Seraphine confirms intention to float
Maternity wear brand Seraphine has confirmed its intention to float on the London Stock Exchange.
In a statement, Seraphine said the initial public offering will comprise new shares to be issued by the company, which are expected to raise gross proceeds of approximately £61 million, and sale shares expected to be sold by existing shareholders, including the executive directors.
The company hopes the IPO will help it to grow its digital platform and increase its customer reach by expanding its digital partnerships.
David N Williams, chief executive of Seraphine, said: “The intention to float announcement marks the next stage in our journey towards being a publicly listed company. Listing will give us the opportunity to further the group’s reach and continue to grow our presence and product offer in the highly resilient and under-competed maternity and nursing wear market. The opportunities for the business are considerable, with plenty of the global market still to go for.”
The company has also announced that Elvie chief operating officer and chief financial officer Sarah Highfield has agreed to become a non-executive director of Seraphine Group and will chair the audit committee. Prior to joining Elvie she was chief financial officer of Costa Coffee and has also previously worked as chief financial officer of Tesco’s Hungary and Slovakia businesses.
