ProCook sets price range for IPO

Kitchenware retailer ProCook has set a price range for its planned IPO which gives it an estimated market capitalisation of between around £150 million and £200 million.

In a statement, the company said the price range has been set at 137p to 185p per share, with the offer representing  up to 40% of its issued share capital.

Last month, ProCook said it was mulling an initial public offering on the main market of the London Stock Exchange as it looked to boost its growth plans.

ProCook’s revenue grew by 37% to £53.4 million in the year to 4 April 2021 while adjusted EBITDA rose by 246% to £13.3 million.

The admission is expected to take place later this month.

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