MusicMagpie worth more than £200m as it completes AIM float
The group has operations in Stockport and in the US in Atlanta, Georgia
Updated
Steve Oliver, CEO of MusicMagpie
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Greater Manchester-based MusicMagpie has completed its float on the London Stock Exchange s AIM market in a move which has valued the business at more than £200m.
Music Magpie IPO: Everything you need to know about Music Magpie
Ben Lobel April 19, 2021 2:35 PM
From shifting CDs in a garage to a world-renowned seller on eBay, consumer goods reseller Music Magpie has come far. But will its planned IPO launch it to new heights? Learn more about the company here. Share:
When is the Music Magpie IPO?
In April 2021, Music Magpie announced that it will list on London’s AIM market in an IPO that could value the business at £208 million. The company expects to raise £95 million for selling shareholders through the listing.
As part of the transaction, founder Steve Oliver will make £12.2 million from selling a portion of his existing 16.6% stake. The actual date of the listing is not yet known.
An entrepreneur who started selling old CDs from his garage will make £12.3 million from disposing of some of his shares in a £208 million flotation.MusicMagpie, an online retailer that sells
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Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Friends who started MusicMagpie in their Stockport garage to net £23m
Steve Oliver and Walter Gleeson will net the fortune after MusicMagpie floats in a deal valuing the business at around £208m
MusicMagpie co-founders Walter Gleeson (left) and Steve Oliver (right)
Credit: MusicMagpie
A pair of music lovers who founded a second-hand CD and DVD website from their Stockport garage will net £23.2m next week when the company floats in London.
Steve Oliver started MusicMagpie in 2007 with his friend and colleague Walter Gleeson after realising there was a demand for hard-to-fiind novels and music - with many sought-after titles lying around unloved in drawers.