The company had priced its initial public offering at between 330p and 370p, and it has hit the top end of the range. As a result of the demand, the principal shareholders have chosen to sell an additional 52.5m shares by exercising an over-allotment option, which will take the overall windfall up to £1.5bn. This will bring the total number of shares in public hands to 403m, accounting for 40.3% of Dr Martensâ total issued share capital.
Shares were up 22% at 450p in conditional trading on Friday, among investors who were allocated shares in the IPO, but full market trading begins on 3 February.
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UK footwear brand expected to launch market listing on Monday, with CEO in line for stake worth £58m
Cherry reds. People in Dr Martens attend skinheadsâ Seaside Reunion Weekend in Brighton. Photograph: Alan Crowhurst/Getty Images
Cherry reds. People in Dr Martens attend skinheadsâ Seaside Reunion Weekend in Brighton. Photograph: Alan Crowhurst/Getty Images
Sun 24 Jan 2021 14.23 EST
The British footwear brand Dr Martens is expected to launch a stock market flotation on Monday that would value the Northamptonshire firm at £3.5bn and generate a huge windfall for its bosses and backers.