8 London 2014 IPOs to remember

Jimmy Choo

Date: 22 October

After numerous delays and changing the price range several times, Jimmy Choo finally floated its shares at 140p a share.

The shoe firm sold around 26 per cent of its shares so it could raise money to expand in Asia. As a result, Jimmy Choo was valued at £545.6m. This was less than the £700m that owner JAB was looking for when its set a top price range of 180p for each share.

This is likely die to investors being cautions about Jimmy Choo’s £100m debt and the decline of luxury good sales in China, one of the areas where the company had hoped to expand in the future.

JAB received £21m for selling a portion of the company.

“The IPO marks an important milestone for Jimmy Choo and recognises not only the appeal of our high quality products but also confidence in our ability to outperform the luxury shoe market,” said CEO Pierre Denis.

“We welcome our new shareholders and look forward to sharing with them the continuing momentum of this exceptional brand.”

Zoopla Property Group

Date: 23 June

Zoopla, the online property company, floated in June and was valued at around £919m. It reported 45.5m average monthly website visits in the three months to July, a 34 per cent increase on the same period last year.

The company raised £385m at admission. And instead of raising new money from their listing, Zoopla returned proceeds of around £250m to existing shareholders

CEO and founder Alex Chesterman, a judge in the 2014 Growing Business Awards, said: “We continue to provide an excellent value proposition for our customers given the leads we generate for their property listings and exposure we generate for their brands.

“Our focus remains on building our brands and business and providing the most useful property resources to consumers along with being the most effective partner for property professionals across the UK.”

Just Eat

Date: 8 April

Just Eat is possibly the London Stock Exchange’s High Growth Segments first entrant since its launch in 2013. And the firm’s IPO raised eyebrows with its £1.5bn valuation.

CEO David Buttress said: “I believe that Just Eat is one of the most exciting global growth companies in Europe and we are all delighted at the strong levels of investor interest we have seen in our initial public offering.

“I believe that investors have recognised our track record of strong growth and that we have a strong platform for future growth. We look forward to life as a listed company as we join the market through the LSE’s High Growth Segment and continue expanding our leading online platform for takeaway food.”

The company later saw a record month in web traffic in July.

“I am delighted with our excellent progress across the business in the first six months of 2014,” he recently added. “Revenue has grown 58 per cent on the same period last year to £69.8m, we have significantly improved profitability and continued to deliver strong cash conversion.”

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