[Stockholm 20th of January 2015] Lexington has decided to go public through an IPO on First North
Apparel and home furnishing chain Lexington has decided to go public through an IPO on First North in February. It is clear from a press release from the company.
A listing on First North ”is a natural next step for Lexington and also aims to increase awareness of Lexington, its business and brand among both existing and potential customers, partners and suppliers, stock market, and other stakeholders”.
The listing must be preceded by a diversification of ownership where 250,000 current owners and the same number of newly issued shares to be sold. The existing shares corresponds to approximately 5.4 percent of the total number of shares in the company prior to the offering. The company’s Managing Director Kristina Lindhe is also the largest shareholder.
The price per share is 40 SEK per share and at full subscription of new shares, the company will raise 10 million SEK before issue costs. The capital contribution will be used primarily for further expansion in the US and Germany, according to the press release.
Lexington is available in 20 markets through its own stores, franchise stores and 900 independent dealers.
Revenues ran up to 240 million and operating profit was 11.5 million during 2013, and Lexington had 87 full-time employees.
The registration period runs from 27 January to 10 February 2015. Preliminary first day of trading on First North, it is 18 February 2015th
To learn more about the company please visit www.lexingtoncompany.com/