THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
McColl's stock market flotation expected to raise £132 million

Newsagent and convenience store operator McColl’s Retail Group has floated on the London Stock Exchange with a start price of 191p per share.

GENERAL MERCHANDISE

McColl's stock market flotation expected to raise £132 million

McColls, which announced plans to float last month, said the offer of 69 million shares is expected to raise approximately £132.8 million for the business. This sum will comprise of a primary component of £49.7 million and secondary sales of £83.1 million.

Secondary sales will consist of a partial sell-down by the executive directors of the company, other group employees, Cavendish Square Partners and a full sell-down by the trustee of the employee incentive trust.

James Lancaster, McColl’s executive chairman and chief executive, said: "We are delighted with the strong interest that we have seen from investors in McColl’s. The success of this initial public offering is a clear endorsement of the quality of the business and its clear prospects for future growth and profitability. It will enable us to accelerate our growth strategy, further enhancing our position in a rapidly growing convenience market.”

McColl's is one of a number of retailers to announce plans to float on the stock exchange this year. These include Pets at Home, Poundland and AO.com as well as Russian supermarket chain Lenta.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing