Retailer Henderson raised RUB 3.8 billion. for IPO – Kommersant
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The Henderson men’s clothing chain raised RUB 3.8 billion. during the initial public offering (IPO) of shares on the Moscow Exchange. The IPO price was 675 rubles. per share is the upper limit of the announced price range. Aggregate demand exceeded supply at the upper limit “several times”; the company attracted more than 40 thousand investors into the capital structure, according to Henderson’s press release (available to Kommersant).
“The total size of the IPO was 3.8 billion rubles, taking into account the size of the stabilization package, and the share of the company’s shares in free float was 13.9% of the company’s increased share capital,” the company said in a statement.
Henderson raised RUB 3 billion. due to an additional issue of 4.4 million shares. Market capitalization at the start of trading will be RUB 27.3 billion.
The founding shareholder sold 444 thousand of his shares for 300 million rubles. “to create additional liquidity in the secondary market and optimization”, and also provided shares worth RUB 495 million, increasing the size of the stabilization package from 10% to 15% of the base IPO size. 3.8 million existing shares were transferred to a group of employees as part of a long-term incentive program (about 10% of the company’s capital). The employees accepted obligations related to the ban on the sale of shares for 365 days after the IPO.
The money raised through the IPO is planned to be used to finance Henderson’s further growth strategy, including “reopening existing salons in new formats and opening new ones,” as well as for the construction of a new distribution center.
About the parameters of the IPO – in the material “Kommersant” “Clothes will be tried on at the stock exchange”.
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