Three companies unveil £400m-plus flotation plans
Feb 16 2010 Huddersfield Daily Examiner
THREE companies have announced plans to raise more than £400m through stock market flotations.
Yorkshire healthcare software business EMIS, Blackburn-based educational supplies firm Promethean and youth fashion retailer SuperGroup have all confirmed fundraising plans.
The moves show the appetite for smaller-scale launches remains – despite several major flotations being pulled in recent days due to market turbulence, including fashion retailer New Look and Alton Towers group Merlin Entertainments.
Promethean aims to raise about £250m by floating about half the business. SuperGroup is issuing shares worth an estimated £125m while EMIS hopes to raise £50m.
SuperGroup, owner of the Superdry brand, has 40 stores of its own in the UK and 54 concessions in department store chain House of Fraser.
Promethean, which focuses on reception, primary and secondary education, has benefited from strong annual growth in education spending during the past decade. The company’s equipment is used in schools in 100 countries, helping to educate more than 12m students.
Leeds-based EMIS employs almost 800 people and was set up in 1987 to computerise patient records previously kept on paper.