London Stock Exchange welcomes Victorian Plumbing Group plc to AIM
London Stock Exchange today welcomes Victorian Plumbing Group plc (Group or Company), the UK’s leading online retailer of bathroom products and accessories , to AIM under the ticker “VIC”.
Headquartered in Skelmersdale, Lancashire, the Group employs over 500 colleagues across seven locations in Skelmersdale, Manchester and Birmingham.
Victorian Plumbing offers a wide range of over 24,000 products to B2C and trade customers and provides a one-stop shop solution for the entire bathroom with more than 125 own and third-party brands across a wide spectrum of price points.
The fundraising raised gross proceeds of £297.5 million and the Group will have a market cap on admission of approximately £850 million based on the offer price of 262p per share. The primary proceeds of the placing will predominantly be used to satisfy the direct costs of the IPO process and position Victorian Plumbing strongly for the next stage of its development.
Mark Radcliffe, Founder and CEO, said: “Today is a landmark day in the history of Victorian Plumbing. The successful completion of our IPO and admission to AIM is an exciting next step on our growth journey. I would like to take this opportunity to thank our team for their support over the years. They have helped to build an incredibly strong, exciting and trusted brand together with a hard-working and innovative culture.
We are pleased to welcome such a strong blue chip shareholder base to the register and look forward to working together on this next chapter in the Company’s development.”
Advisers to the Company
GCA Altium – Nominated Adviser and Financial Adviser
Barclays Bank PLC and Numis Securities Limited – Joint Global Coordinators
FTI Consulting – Financial PR adviser