HSS Hire valued at £365mln; DFS next onto IPO conveyor


Tool hire group HSS has confirmed it will raise over £100mln in new money when it floats on the London stock market.

The construction and DIY equipment renter and retailer, which has 265 branches across the UK, will sell the shares in a price range between 210p to 262p.

Earlier reports had suggested the group might have an enterprise value (debt plus equity) of up to £600mln and the £365mln market value at the mid-point of the price range is right in line with those estimates. 

After the decision of online ticket group thetrainline.com to sell to a private equity firm today, HSS will be the first significant listing in London in 2015.

It said it expects to raise £103mln gross in new money to cut its £200mln debt. The prospectus is issued today.

Meanwhile, furniture giant DFS is said to be lining up a £1bn float following strong trading throughout 2014.

DFS is the UK’s second largest furniture retailer behind IKEA and owned by Advent International, which bought the group from Lord Kirkham in 2010. It is also said to be looking to raise more than £100mln in new money.

Hargreaves Lansdown is being lined up to co-ordinate the retail portion of the float according to today's reports.

Quick facts: Trainline

Price: 465 GBX

Market: LSE
Market Cap: £2.24 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


PyroGenesis Canada to supply plasma torch for $1.8M with major iron ore producer

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) (FRA:8PY) CEO Peter Pascali tells Proactive the group has signed an initial contract to provide a high-powered, one-megawatt plasma torch with accessories to a major iron ore producer for around $1.8 million. Pascali says the Montreal-based...

12 hours, 11 minutes ago

2 min read