Maternity wear specialist Seraphine is looking to raise £61m via a new share issue and the sale of shares by existing shareholders. The move planned for July will see the company repay loans and IPO costs with £16m of the proceeds, with the balance directed toward repaying loans to shareholders. The business, which has attracted a high profile clientele, generated £28.1 million in revenues for year ended April 2020.
David Williams, CEO, Seraphine said: “We strongly feel that now is the right time for the business to float. Listing will give us the opportunity to further the group’s reach, and continue to grow our presence and product offering in the highly resilient, and under-competed maternity and nursing wear market.”
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