Fruugo Working With Bankers on Plan for London IPO, Sky Reports
Fruugo, an online marketplace founded in 2006, is in discussions with bankers from Panmure Gordon about launching an initial public offering in London as soon as this autumn, Sky News reported, citing unidentified people familiar with the situation.
The company, which is run by Dominic Allonby, enables small and medium-sized retailers and international brands to market themselves around the world by acting as a platform for more than 30 currencies in 28 languages, according to Sky.
It’s unclear how much the company might aim to raise from an IPO, though it’s likely to be valued at “several hundred million pounds,” Sky cited one unidentified person familiar as saying. A Fruugo spokesman declined to comment, Sky reported.
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