Jimmy Choo makes stock market debut
Luxury footwear brand Jimmy Choo made its debut on the London Stock Exchange today after its offer price was set at 140 pence per share.
While the pricing was at the bottom of the planned range, the initial public offering valued Jimmy Choo at £546 million.
The brand’s owner JAB Luxury sold a 25.9% stake in the company and will receive gross proceeds of £141 million from the offer. Following the sale, JAB Luxury will hold 70.2% of Jimmy Choo share capital while the directors and senior managers will hold 2%.
Jimmy Choo chief executive Pierre Denis said: “We are delighted with our successful IPO. Today’s announcement marks an important milestone for Jimmy Choo and recognises not only the appeal of our high quality products but also confidence in our ability to outperform the luxury shoe market. We welcome our new shareholders and look forward to sharing with them the continuing momentum of this exceptional brand.”
