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Dr Martens confirms plans for LSE listing

The iconic bootmaker said it plans to complete its float in early February, with some reports estimating the IPO could value the firm at £1bn

Dr Martens confirms plans for LSE listing

Dr Martens Limited has confirmed plans for an initial public offering (IPO) and float on the London Stock Exchange in early February.

On Monday, the iconic boot maker said it will apply for a listing on the premium segment of the LSE for at least 25% of its share capital, with major investment banks such as Goldman Sachs, Morgan Stanley, and Barclays among those organising the IPO.

READ: Dr Martens expects to make more than a fashion statement with London float

The offer price for the float has yet to be announced, with the company saying the number will be determined following a book-building process.

Dr Marten’s announcement follows a previous release last week when the firm said it was drawing plans for a potential float on the LSE, which some reports have said could value the company at around £1bn.

Owner Permira, which took control of the business for £300mln in 2013, is looking to sell stake in the group, which last year generated sales of £672mln and pre-tax profits of just over £100mln.

The float is the latest in a flurry of recent IPO announcements, with other companies such as online greeting card group Moonpig and takeaway delivery app Deliveroo expected to list in the coming months.

Quick facts: Dr Martens PLC

Price: 493.4 GBX

LSE:DOCS
Market: LSE
Market Cap: £4.93 billion
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