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23 Sep 2015

BY Edward Robertson

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On the Beach floats on London Stock Exchange

On the Beach is expected to raise £90.2 million when it floats on the London Stock Exchange today.

OtB family.jpg
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How much is On the Beach set to make from its IPO today?

The OTA will be releasing 52,173,912 shares at a price of 184 pence per share at 8am for conditional dealings. Its total issued share capital is 130,434,763 shares.

 

Overall, the flotation values the company at £240 million. Of the £90.2 million net proceeds initially expected, £6.4 million is for On the Beach with the remaining £83.8 million going to the selling shareholders, comprising of the private equity firm Inflexion, the company’s directors, members of the senior management team and other individuals.

 

Chief executive Simon Cooper said: “In a little less than 11 years, we have established On the Beach as one of the UK’s leading online retailers of beach holidays.

 

“Our highly differentiated business model and superior technology platform has been core to the success of the business.

 

“The IPO of On the Beach marks an exciting milestone in the company’s development and will support us in our ambition to become Europe’s leading online retailer of beach holidays.

 

“We welcome our new shareholders and, with their support, look forward to delivering the next chapter of our growth story.”

With such a big mile stone under their belt, I’m sure the management team will be looking forward to resuming their day-to-day tasks. Here’s what founder and boss Simon Cooper had to say about the business earlier this year.

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With such a big mile stone under their belt, I’m sure the management team will be looking forward to resuming their day-to-day tasks. Here’s what founder and boss Simon Cooper had to say about the business earlier this year.

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TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
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