Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Blue Inc scraps IPO plans

Blue Inc has abandoned plans for a stock market flotation, electing instead for a private sale.

The fashion retailer had been mooting an initial public offering (IPO) and in May appointed Cantor Fitzgerald to advise it through the process, but a source close to the situation said it had chosen to sell to private investors, according to Drapers sister title Retail Week.

It is understood the decision was made following a spate of disappointing IPOs in the sector.

An announcement had been expected tomorrow on the offer price, with analysts predicting the retailer would be valued at around £60m.

The retailer joins a number of high-profile companies to lose heart after announcing their intentions to float.

Earlier this week M and M Direct announced it had opted for a private sale despite making preparations to list on the market, and in May Fat Face also abandoned an IPO.

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.