Dr. Martens Jumps in London Debut on Boots’ Enduring Appeal
- London IPO priced at 370 pence a share, top end of range
- Existing shareholders sell 350 million shares in the deal
The IPO values Dr. Martens at 3.7 billion pounds.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
British bootmaker Dr. Martens Plc soared in London trading after owner Permira Holdings and other shareholders raised 1.3 billion pounds ($1.8 billion) in an initial public offering, cashing in on the lasting popularity of its cult footwear.
The stock surged 22% to close at 450 pence on Friday after pricing its IPO at 370 pence, the top end of an initial range. It’s the U.K.’s largest domestic IPO since September.