Made.com £775.3 million IPO and London listing
Davis Polk advised Made.com Group on its initial public offering and London Stock Exchange listing. At the offer price of £2.00 per share, MADE’s market capitalization was £775.3 million. The IPO comprised a primary offering of 50,000,000 new ordinary shares raising gross proceeds of approximately £100 million for MADE and a secondary offering of 46,900,000 existing ordinary shares raising gross proceeds of approximately £93.8 million for the selling shareholders. Certain selling shareholders provided an over-allotment option over a further 14,500,000 ordinary shares. MADE’s ordinary shares have been admitted to the premium listing segment of the Official List maintained by the Financial Conduct Authority and to trading on the London Stock Exchange’s main market for listed securities under the symbol “MADE”.
Founded in 2010, MADE is the leading digitally native lifestyle brand in home. MADE sells its products across the United Kingdom, Germany, Switzerland, Austria, France, Belgium, Spain and the Netherlands via its e-commerce platform. To create its product range of over 6,000 curated furniture and homeware products, MADE partners with over 150 established and up-and-coming designers, artists and collaborators. MADE had approximately 1.2 million active customers in the 12 months to March 31, 2021.
The Davis Polk corporate team included partners Will Pearce, Dan Hirschovits and Reuven B. Young, counsel Connie I. Milonakis and William Tong and associates Sophie Bessisso, Nicolas E. Biggio and Vivek Thanki. Partner Nick Benham provided finance advice. Partner Jonathan Cooklin provided tax advice. All members of the Davis Polk team are based in the London office.