SuperGroup will use the £125m expected to be raised by its flotation to open 20 stores and launch a marketing campaign, founder Julian Dunkerton has said.
The young fashion business, which owns the Superdry brand and the Cult retail chain, is pushing ahead with its stock market flotation. It said its shares would be priced at 500p each, valuing the business at £395m. Dunkerton will shrink his stake from 53% to 33% and bank £50m. The new stores will add to its portfolio of 40 shops and 54 concessions.
SuperGroup is likely to circulate a prospectus for retail investors later this week and list at the end of this month.
The company is debt free and doesn’t have a private equity investor anxious to make a quick exit. The offer is understood to have been one and a half times oversubscribed and will include shares specially reserved for small shareholders.