Waterstones owner plots bank appointments ahead of potential £2bn float
Elliott Management, the owner of Waterstones, is close to appointing a syndicate of banks to oversee a potential flotation of the bookseller on the London Stock Exchange.
According to Sky News, Goldman Sachs and JP Morgan are among those hoping to be formally hired to work on the float, which could happen in the second half of this year and could value the business at around £2 billion.
Subscribe to TRBIn addition, Morgan Stanley is understood to be in the running for a top level advisor role for the IPO as joint global co-ordinator.
City sources told Sky News that other investment banks are in the process of being appointed for more junior bookrunning roles.
However, market volatility due to conflict in the Middle East could mean the IPO is delayed until next year.
Sky has previously reported that Elliott Management has engaged head hunters at Russell Reynolds Associates to identify suitable candidates to join the Waterstones board, including as chair.
Waterstones operates around 315 stores in the UK and employs around 4,000 people.
