British maternity wear brand Seraphine plans to raise £61 million funds from the London Stock Exchange in July 2021. The brand will use 16 million of the proceeds to repay current term loan, in addition to paying costs related to float. The remaining £45 million will be used to repay the brand’s loan held by some of its shareholders.
Notably, about 50 per cent of Seraphine’s capital will be issued as a part of the IPO. The IPO is intended to help the brand expand digitally. David Williams, CEO, Seraphine, said, the brand’s listing on the stock exchange will give it an opportunity to expand reach and product offerings in the highly resilient and under-competed maternity and nursing wear market.
Founded in 2002 by Cécile Reinaud, Seraphine presently has eight stores across London and reaches as many as 120 countries through websites. It has stores in the UK, Dubai, Hong Kong, France as well as in the US, and generated a turnover of £28 million in 2020.
