ProCook Group PLC (LSE:PROC) started trading today on the London Stock Exchange following an initial public offering at 145p per share, which valued the company at GBP158mln.
The IPO represented 25% of the direct-to-consumer kitchenware company’s share capital and raised around GBP39.5mln.
The family-owned online and offline retailer, which was founded 25 years ago from a cottage in Gloucestershire as a mail order business, sells its 1,600-item range of pots, pans, knives, tableware and other items via its website and more than 50 stores across the UK, along with third-party marketplace sales in Europe, predominantly in Germany and France.
ProCook shares started trading at 160p and reached a high of 163p. The shares were changing hands at 155.04p at midday.