By Chris King • 30 January 2021 • 0:10
Dr Marten's Bootmaker Hits The Stock Market Valued At £4billion.
DR MARTEN’S Bootmaker Hits The Stock Market Valued At £4billion as shares are floated for the first time
The iconic brand of boots, Dr Marten’s, was floated on the London stock market yesterday (Thursday 28) for the first time and took off in style, valued at almost £4billion.
Share prices started out at 370p each, but such was the demand from investors, they closed the day at 450p, an increase of 21.6 percent on its first day, quite a day’s work for owner Permira, which bought the business for £300m seven years ago.
Investors went so crazy for the shares, given the ticker ‘DOCS’, that reportedly the demand was nine times the stock the company had available
Kenny Wilson, the chief executive of Dr Marten’s said, “The successful transformation of Dr Martens is a great story, and what is even more exciting is the huge potential ahead. We are proud to take our place as a London listed company”.
The brand, with its iconic yellow-stitched boots, is the first of many that are expected to hit the stock market this year, with ecard retailer Moonpig expected to follow it soon, and reportedly Darktrace and Deliveroo are contemplating a move as well.
Moonpig is expected to conditionally enter the market next Tuesday, February 2, allegedly pricing their shares at between 310-350p each, which would value the company at around £1.2billion.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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