25 May 2024, 18:09
By Furniture News Jan 26, 2015

ScS to float this week

According to The Telegraph, ScS is preparing to return to the London stock market this week with a listing valuing the business at £70m. According to the newspaper, the retailer did not formally announce its flotation, instead quietly building support from investors to price shares at 175p each.

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.

ScS chief executive David Knight told The Telegraph: "We have made significant progress over the past six years. We are now a bigger and better business with more diverse revenue streams demonstrated in particular by the success of brands within our sofa offering as well as our flooring offering. We are now well placed to capitalise on this growth and are delighted that our initial public offering has been successful and we will be returning to the London Stock Exchange.

"An IPO is a natural step for the company, we welcome our new shareholders and are very excited about the significant opportunities that remain ahead of us."

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