SuperDry heads firms breaking trend and going for flotation
Despite the rush of companies pulling their plans to list on the stock market, three companies with a combined value of £1.1 billion today confirmed their intention to go ahead with share floats.
The best known is SuperGroup, owner of the SuperDry fashion label, which has had its clothes worn by Jude Law and David Beckham. It wants to raise £125 million by selling new shares in a float which should value it at up to £400 million.
It will make John Dunkerton £200 million — a long way from when he founded the company on a £40 a week enterprise allowance scheme loan in 1985. Unusually, shares will be offered for sale to the public.
Educational technology company Promethean World is offering shares only to institutional investors in its float which will value it at up to £500 million. The business was founded in 1996 by Tony Cann whose family trusts own half the company. Private equity group Apax has another 25 per cent.
Healthcare IT group EMIS is planning to raise £50 million through issuing new shares on the junior AIM market, valuing it at £200 million.
Last week fashion chain New Look, Madam Tussauds owner Merlin Entertainment and hotel and airline booking group Travelport all put their float plans on ice, blaming poor stock market conditions.
