Cooking and kitchenware business ProCook has priced its initial public offering at 145.0p per share, giving the company a market capitalisation of approximately £158.0m when it hits the London Stock Exchange.
ProCook highlighted that the offer was made up of the sale of 27.4m shares by the company’s existing shareholders, which equates to a total offer size of roughly £39.7m and represents approximately 25% of its issued share capital on admission.
Immediately following admission, the company’s issued share capital will be 108.95m shares.
Chief executive Daniel O’Neill said: “We have been thrilled with the level of interest and support from a range of institutional and retail investors. I am really proud of how far we have come as a business, and today’s announcement is another key step on our growth journey.
“ProCook has a unique, direct-to-consumer proposition, a clear strategy for growth and a dedicated team of wonderful staff with a real passion for cooking – all the key ingredients needed to enable us to continue to grow and develop our ambitions. I’m excited for our future and look forward to this next chapter.”
