Supergroup flotation is on

Steve Dinneen
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Fashion retailer Supergroup yesterday confirmed it was pressing ahead with plans for an IPO despite several major flotations being called off in the last week.

The company hopes to raise £125m from the listing, valuing it at £400m. Chief executive Julian Dunkerton yesterday began a roadshow to drum up investor support for the IPO before targeting retail investors next week.

Seymour Pierce is acting as sole sponsor and bookrunner on the deal. The money raised will be used to accelerate Supergroup’s plans for growth and support working capital requirements.

It has 40 standalone stores in the UK and 54 concessions in House of Fraser. Dunkerton said: “SuperGroup is a highly profitable, fast growing business. The retail component to our listing will enable members of the public to share in our future success.”