Soho House Group is to change its name to Membership Collective Group and seek a New York Stock Exchange listing.
Sky News reports that the global network of private members’ clubs filed for a listing last month and is working on plans to offer its membership, said to be around 100,000, a chance to buy the company’s shares when it floats.
Sky News’s sources revealed that the leisure company is teaming up with British fintech PrimaryBid, to make it easy for its members to subscribe for shares.
The expectation is that the UK-based company will be valued at around US$2bn when it floats. It has hired Goldman Sachs and JPMorgan to advise on the initial public offering, which is expected to raise hundreds of millions of dollars in fresh capital to finance the group’s international expansion plans.
The company has plans to open branches in Hong Kong and Mumbai as part of its expansion into Asia, with Latin America in its sights later on.