Victorian Plumbing gets set to float on AIM
Online bathroom retailer Victorian Plumbing is to float on the AIM junior stock exchange in an £850 million initial public offering.
With the float anticipated to take place on 22 June, the placing of new shares is expected to raise gross proceeds of £11.6 million for the company while the placing of sale shares is expected to raise £285.9 million for the selling shareholders.
The primary proceeds of the placing will mainly be used to satisfy the direct costs of the IPO process. In addition, the company said the placing will help position it for the next stage of its development.
Mark Radcliffe, founder and chief executive of Victorian Plumbing, said: “The overwhelmingly positive reaction to our IPO has been humbling and it is amazing to see the support and excitement around our strategic plans.
“We’re thrilled to have reached this milestone. It is a testament to the dedication of our fantastic employees who have helped build this unique and trusted brand and industry leading proposition.”
