Ocado offers top shoppers share chance June 7, 2010 ONLINE supermarket Ocado has offered its most loyal customers the chance to buy shares if it goes ahead with plans to float on the London Stock Exchange. Chief executive Tim Steiner told customers in a letter yesterday that anyone who has spent £300 with the online grocer this year would be eligible to participate in [...]
Fresh Ocado deal boosts plans to float May 26, 2010 OCADO has struck a new 10-year partnership deal with Waitrose – strengthening its position as it presses ahead with plans to float. The two firms said yesterday they had sealed a deal under which Ocado will be able to continue selling Waitrose products until September 2020. A previous agreement had been due to expire in [...]
Tories gain more support for jobs tax pledge April 6, 2010 THE TORIES were last night claiming another victory in the battle over National Insurance, after three business leaders added their names to a letter condemning Labour plans to hike the “tax on jobs” after the election. Tory sources said that Yell chairman and ex-Merrill Lynch banker Bob Wigley had decided to support the campaign, along with [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 28, 2010 THE SUNDAYS The Sunday Telegraph OCADO TO HIT PROFIT IN TWO YEARS Ocado’s imminent plans for a £1bn stock market flotation have been given a boost after a detailed research note from an expert retail analyst firm said that the online retailer would be making pre-tax profits within “a two-year time frame”. The note said [...]
Ocado sales jump 25pc in IPO warm-up March 22, 2010 OCADO, the online food retailer, has started a “beauty parade” of advisers for a stockmarket flotation after releasing a strong set of results which saw sales surge 25 per cent in a year. Investment banks queuing up to help guide Ocado through a summer initial public offering (IPO) include UBS, Credit Suisse, Goldman Sachs, Nomura [...]
Ocado beefs up board for IPO March 21, 2010 Online retailer Ocado will boost its plans to float today when it announces it has reinforced its board with David Grigson, former finance director of Reuters and Ruth Anderson, the former vice-chairman of KPMG UK as non-executive directors. The 10-year-old internet firm will also say gross sales grew by a quarter to £427.3m in the [...]
Ocado confident on float March 17, 2010 ONLINE grocer Ocado is looking at a summer flotation, confident its rapid sales growth and expanding marketplace will win over investors despite jittery equity markets and its lack of profit. Finance director Andrew Bracey said proceeds from selling new shares would be used mainly for growth, such as building a second centre for processing customer [...]
Merlin’s magical results mean IPO could happen March 9, 2010 Merlin Entertainments is ready to make a sensational U-turn and resurrect its shelved flotation plans. The change of heart follows the release of tub thumping results by the London Eye owner, with Ebitda shooting up 16.6 per cent last year to £238.6m. Merlin’s revenue for 2009 rose 16.1 per cent to £769m, translating to 9.4 [...]
Supergroup will go ahead with float February 28, 2010 SUPERGROUP insists its flotation later this month will go ahead despite the torrid times experienced by other firms planning IPOs this year. The owner of Superdry and Cult Clothing brands will only achieve the lower end of its initial valuation, according to analysts, however. The company hopes to raise £125m through the offering, valuing the [...]
Ocado denies problem with upcoming IPO February 15, 2010 ONLINE groceries firm Ocado hit back last night at reports its £1.2bn initial public offering (IPO) was under threat. The shadow of doubt was cast after reports emerged Waitrose is planning to launch a rival delivery service in central London. But Ocado chief financial officer Andrew Bracey told City A.M. the firms are not in [...]