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Supergroup presses ahead with float despite mixed feedback on pricing

SuperGroup, the company behind Superdry and Cult Clothing has expressed commitment to a flotation on the London Stock Exchange despite concerns over pricing.

According to The Guardian, some City fund managers have balked at the price tag being proposed.

The institutional investor roadshow ends today and the formal bookbuilding process will begin next week.

Insiders said three “blue chip” institutions were among those to have indicated they would participate in the offer. However one broker said the rating to which SuperGroup is aspiring was considered “too aggressive” by some investors, although he added: “That’s not to say they won’t get it away.”

SuperGroup is expected to float at Easter.

SuperGroup’s management, led by chief executive Julian Dunkerton, and other existing investors plan to share £105m of the £125m the company plans to raise through the institutional and retail share offer, with £20m to be retained for expansion.

 

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