Pinsent Masons advises Seraphine Group PLC on its £150m main market IPO

The IPO was priced today at 295 pence per share, giving Seraphine a market capitalisation of approximately £150.2 million. The IPO raised gross proceeds of approximately £75.5 million. Admission is expected to take place at 8.00am on 16th July 2021.

Seraphine is based in London and exports products to customers in over 120 countries worldwide. It has grown a long list of royal and celebrity followers, including the Duchess of Cambridge, which has helped to drive brand visibility internationally and has twice received the Queen’s Award for Enterprise: International Trade in 2015 and 2020.

The Pinsent Masons team acting on the transaction was led by Julian Stanier and comprised Amy Moore, Damini Kotecha, Nick Falconer, Gareth Jones, Alasdair Weir, Neil Munford, Jonny Kirkwood and Sophie Bailey in corporate with US securities advice being provided by Roberta Markovina and Beatrice Kelly.

Commenting on the deal Julian Stanier said:

"This is our 7th IPO to close in 2021 so we have had a fantastic year to date and if the markets are receptive to new entrants in the autumn and we complete the other deals in our pipeline, it will be a record year for the Corporate Finance team at Pinsent Masons. We won this mandate, following pitches to the Seraphine management team and Mayfair Equity Partners, through a combination of our leading UK and US capital markets expertise, our strong retail sector focus and our long-standing relationship with Numis Securities, sponsor and sole bookrunner to the deal."

Numis Securities was advised by a team from Mayer Brown International LLP led by corporate partner Kate Ball-Dodd.