UK-based online greeting card & gifts retailer, Moonpig, has confirmed plans for a $1.6B (approx €1.3B) initial public offering (IPO) listing on the London Stock Exchange.
The move comes after Moonpig’s demand for personalised products were boosted during the pandemic as social distancing rules prevented people from meeting, hence opted to send cards and gifts instead.
The firm says at least 25 per cent of its share capital would be made available at the initial public offering (IPO), which is set to take place next month.
BlackRock and Dragoneer Global Fund have already agreed to buy £130M (approx €146.1M) of the shares – £80M (approx €89.9M) and £50M (approx €56.2M), respectively. Previously, the two US firms had also invested in The Hut Group’s recent flotation.