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Published
Feb 22, 2016
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Joules prepares for £150m spring float

Published
Feb 22, 2016

British men’s and women’s casual clothing and lifestyle retailer Joules has hired stockbrokers Peel Hunt and Liberum to manage its IPO, The Telegraph has reported.

Joules


The initial public offering is expected in April or May and will value the company at £150m. It's likely to be very lucrative for founder Tom Joule, who owns 80% of Joules - a float at upwards of £150m would give him £120m. The remainder of the company is owned by LDC, the private equity division of Lloyds Banking Group.

Joules reported a revenue increase of 21.6% to £117.1m in the full year to the end of May, and pre-tax profits rose by 35.5% to £5m. The company was founded in 1989.

It is believed, by City insiders, that a number of companies will attempt to float in coming months before the vote on Britain’s membership of the European Union creates too much market uncertainty.

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