Ocado plans to float this month
Ocado is to test the water with a float this month that could see online grocer valued at up to £1.1bn
Shares in the group will be priced at between 200p and 275p, giving the group a valuation range of £800m to £1.1bn.
Ocado will raise a minimum £200m through the sale of 102.5m new shares, while existing investors and management could sell up to 155.2m shares, including 10m options or warrants.
The group, which has a deal to deliver for Waitrose until 2020, recently reportedly sales up 30% to £246m in the six months to 16 May. Operating profits rose to £8m from £2.8m.
The pension fund of the John Lewis Partnership, the owner of Waitrose, is expected to halve its 26.5% stake. The shares are expected to begin trading on 21 July.
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