Member Article

Bonmarché announces offer price

Wakefield-based Bonmarché today announces the successful pricing of its initial public offering and the proposed placing of 20,007,260 ordinary shares at 200p per share by Investec Bank plc.

This will raise expected proceeds of £40 million.

Bonmarché was bought by private equity firm Sun European Partners last year.

Beth Butterwick, Chief Executive Officer of Bonmarché, said: “We are delighted to announce that our initial public offering has been successfully received.

“We would like to welcome our new shareholders and are looking forward to the next stage in the development of the business as a publicly quoted company.”

Bonmarché was founded in 1982 by Sikh business man Parkash Singh Chima. His first store opened in Doncaster in 1985, which grew into a chain with more that 300 stores, with a turnover of more than £200 million, an collaborated with the designer of Diana Spencers wedding dress, David Emanuel.

Investec will be acting as financial adviser and broker to the company.

This was posted in Bdaily's Members' News section by Clare Burnett .