ScS, one of the UK’s largest retailers of upholstered furniture and floorings, today announced that its entire issued ordinary share capital – consisting of 40,000,000 ordinary shares of 0.1p each – has been listed on the London Stock Exchange.
According to the Financial Times, an IPO at 175p a share valued the business at just over £70m, and raised £35m for private equity backer Sun European Partners, which retained a stake of 42%.
According to The Telegraph, owner Sun European Partners will still own 41.6% of the company, but will receive £35m from selling down a significant portion of the business – 51% will be in public hands.
The float arrives just before that of rival DFS, which is rumoured to be listed on 4th February.
