musicMagpie set for stock market swoop

Leighton resigns from Music Magpie board

Online retailer musicMagpie is looking to swoop onto the London stock market.

The Stockport-based company, launched in 2007, is one of the UK’s biggest recyclers of consumer electronic devices, such as second-hand computer games, consoles books and films.

Investment banks Peel Hunt and Shore Capital have been appointed to lead a flotation, which is expected next year.

A spokesperson from musicMagpie, said: After a sustained period of strong performance, musicMagpie is reviewing a number of attractive alternatives to best support our continuing rapid growth.  

“Helping consumers stay connected, work from home and be entertained for less, while enabling them to raise fast cash from unwanted items in an easy process, has been especially important recently. Our circular economy model is popular with many millions of users and we look forward to the future with confidence under our mantra of being ‘Smart for you, Smart for the Planet’.”

This story was first reported by Sky News.

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