Pets at Home makes debut on LSE

Pets at Home makes debut on LSEPets at Home had made its debut in the London Stock Exchange (LSE) in order to raise money and expand its presence in the market.

Pets at Home have said that it has planned for a stock market listing as the IPO market remains strong. Pets at Home is a leading pet shop and vet firm, which is largely owned by private equity group KKR. The company will sell shares for between 210p and 260p in order to raise £280 million. The listing will give a market value of up to £1.3 billion.

The company said that about 85 per cent of the offer will go to institutional investors while the remaining will be allocated to members of the public and staff members. A total of about 500 employees will own 10 per cent of the company, which means a windfall of up to £130million. The company also said that each of them will have stock worth up to £260,000 and the value of these could rise still further on the first day of trading.

Experts have said that Like Pets at Home, Poundland is among a bevy of retail floats coming to market in 2014.