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Summary
- Consumer reviews website Trustpilot on Tuesday announced that its IPO happened at 265p-per-share.
- The company’s valuation came at £1.1 billion as it plans to launch 161 million shares in the market.
Consumer reviews website Trustpilot on Tuesday announced that it would enter the market and its shares would be available at 265 pence per share. This brought the company’s valuation to £1.1 billion.
The company introduced 161 million shares in the market, which began conditional trading. The shares jumped 13 per cent to reach 300 pence in the early trading hours, however at the time of close, they turned flat, ending at 265 pence.
Trustpilot has investment commitments from investors like Adelphi, Fidelity, Janus Henderson, and BlackRock, who have committed to raising $240million through the IPO earlier in March. In March, the company announced that it was about to float its shares in the market.
The company’s EBITDA was US$6.1 million in 2020, and its revenue increased to US$102 million in 2020 from US$64 million in 2018.
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Here are three other companies that are all set to make their debut soon in 2021:
Deliveroo
The food delivery app, whose business sored through the pandemic as Covid-19 restrictions kept restaurants out of bounds, is looking for a valuation of about £8.8 billion in its London IPO. The company’s market launch has been touted as one of the biggest IPOs of this year after it announced its plans for a London listing earlier in March.
Also read: Deliveroo’s hotly anticipated IPO kicks off in London
The Amazon-backed company has priced its shares between £3.90 and £4.60 each share, which will peg the estimated market capitalisation in the range of £7.6 billion-£8.8 billion. The company is targeting to gross proceeds worth £1 billion from the IPO.
Dr Martens
The British footwear and clothing brand would be making its market debut at 370 pence each share, which would give it a valuation of £3.7 billion. The company’s owner, the private equity firm Permira and other shareholders sold 350 million shares as part of the floatation at 370 pence each.
Also read: Bootmaker Dr Martens to Make Their LSE Debut Soon
The private equity firm had bought Dr Martens in 2014 from the Griggs family for a whopping £300 million. Post-acquisition, the company business changed from manufacturing-oriented wholesale business. It is now a digital-led, consumer-first, and multi-channel business.
Darktrace
The cyber-security company too picked London for its market debut. The company would have its IPO in the first half of this year, and its business has been valued at $5 billion. Its customer base expanded to 4,500 firms and includes names like Rolls Royce, Micron, and NHS Trusts.
Also read: Future of Darktrace’s IPO in the dark, as UBS withdraws participation
The company recently found itself embroiled in a controversy as Swiss investment bank UBS withdrew participation from its IPO, citing compliance issues. UBS withdrew participation for the company’s links with tech entrepreneur Mike Lynch. The US has begun extradition proceedings against Lynch, who was one of the initial investors in the company.
