Following its announcement on 22 October 2021 of its intention to proceed with an initial public offering (the “IPO” or the “Offer”), ProCook Group Limited has today announced the price range for its planned IPO and the intention to publish its Prospectus, which is expected to take place later today.
The price range for the Offer has been set at 137p to 185p per Share, implying an estimated market capitalisation at Admission of between approximately £150 million and £200 million. The Offer will consist of up to 43,666,658 Shares, representing up to 40 per cent of the Company’s issued share capital. The Offer will comprise an offer of existing Shares to be sold by existing shareholders.
The Directors believe that the Offer and Admission will support the Group’s growth plans by increasing the Group’s public profile and brand awareness as well as further improve the ability of the Group to attract and retain high quality talent; and create a liquid market in the Shares for existing and future shareholders. It is currently expected that Admission will occur in November 2021.
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