McColl's gets off the starting blocks with £200m valuation

IPO WATCH: The convenience store chain became the latest to float in the UK this morning.

by Emma Haslett
Last Updated: 22 Jul 2014

Want more than just a bar of chocolate and a lottery ticket from your local convenience store? Well, now you can: shares in convenience chain McColl’s started trading at eight o’clock this morning at 191p, valuing the company at about £200m.

The company is offering 69.5 million shares, meaning it hopes to raise about £132.8m in total. Unconditional trading starts on Friday – but chief exec James Lancaster is pretty pleased so far.

‘The success of this initial public offering is a clear endorsement of the quality of the business and its clear prospects for future growth,’ he said.

To be fair, it couldn’t have chosen a better day: the FTSE 100 hit a 14-year high yesterday, recording its second-highest close ever after positive news from Vodafone and Bunzl. New York’s S&P 500 is also trading at a record high today – so for those planning to IPO, now is as good a time as any…

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