Permira-backed New Look "open-minded" on flotation

The fashion retailer postponed its plans to launch an IPO in February this year, due to "considerable volatility in the equity markets". Apax and Permira were hoping to list New Look in a £1.7bn deal in mid-March, expecting to raise £650m from the listing to pay down the company's subordinated debt.

While stating that it was under no pressure from investors or the market to list, New Look said it was optimistic for trading prospects over the Christmas period. According to its CEO, the company is now closing the gap with online retailer Asos in terms of market share, despite difficult conditions for the consumer sector.

 

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• Topics
• UK / Ireland
• Exits
• Consumer
• Flotation
• Permira
• Apax Partners