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GC Asia
Ocado hones £400m home delivery float after four years
One of the past decade’s longest mooted IPOs was finally announced this week as the UK’s Ocado launched pre-marketing for a £400m float. The online supermarket delivery company has come close to launching a deal since starting to consider an IPO in 2006, according to bankers. But, after the listing failed to occur, many assumed it would not seek a float until it reached profitability.
However, while Ocado remains unprofitable after almost 11 years of operations —– total losses in the period exceed £300m —– investor education has now been launched. It will price the IPO in mid-July.
The sale is likely to prove challenging. Already uncharitable rival bankers have dismissed it as ...Please take a trial or subscribe to access this content.
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