GrandVision IPO: Vision Express owner to list on Euronext

 
Ollie Gordon
GrandVision is the world’s largest optical retailer
GrandVision, the Dutch owner of UK glasses specialist Vision Express, announced yesterday it will list on the Euronext in Amsterdam.

The initial public offering for the world’s largest optical retailer comprises a secondary offering of 20 to 25 per cent of shares belonging to GrandVision’s founding shareholder, HAL Optical Investments – a subsidiary of Dutch investment group HAL Holding.

Although the company did not reveal how much it is looking to raise from the offering, its shares are expected to be made available to institutional and retail investors in the Netherlands as well as to certain qualified institutional investors in other jurisdictions. HAL intends to remain a significant long-term shareholder in the company after the listing.

ABN Amro and JP Morgan are acting as joint global coordinators on the offering.

Theo Kiesselbach, chief executive of GrandVision, said: “Starting in 1996, GrandVision has, at an incredible pace, grown to become the global leader in optical retail. We believe that this IPO now marks a milestone in the history of GrandVision. With this we feel the responsibility to work even harder to bring high quality and affordable eye care to more and more people around the world.”

GrandVision has a portfolio of 33 optical retail brands with 5,600 stores spanning 43 countries.

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