Moonpig will bring home the bacon for Hampshire council: Local authority was early investor in online greetings card firm
Hampshire will be an unexpected winner from the bumper float of Moonpig.
The online greetings card company, founded by former BBC Dragon’s Den star Nick Jenkins, plans to raise up to £422million from an initial public offering next month.
That would value it at £1.2billion, handing investors a tidy windfall.
Online greetings card company Moonpig , founded by former BBC Dragon’s Den star Nick Jenkins, is planning to raise up to £422m from an initial public offering early next month
Hampshire County Council’s pension fund, which has 178,000 scheme members, will join private equity magnates as a winner, as it plans to sell down its shares to scoop a profit.
The internet retailer was bought by private equity firm Exponent in 2016, and this year has seen its fortunes boosted by the pandemic.
Moonpig added 1m customers during the first lockdown.
Its revenue has rocketed from £176million in the 12 months to April 2020, to £156million in just six months to last October.