WORLD
Luxury shoe brand Jimmy Choo could announce its intention to list on the London stock exchange as early as Tuesday, a source close to the deal told Reuters. The initial public offering (IPO), which could value Jimmy Choo at more than 700 million pounds ($1.14 billion), will seek to woo investors with annual sales growth of more than 10% on the back of aggressive expansion plans in Asia and elsewhere, another source close to the deal told Reuters last week.
The company, however, is still working on resolving some last-minute issues, the first source said on condition of anonymity. The British brand will aim to convince investors that Jimmy Choo offers an opportunity to gain exposure to the high-end shoe market, one of the fastest-growing sub-categories of the luxury goods industry.
European IPO issuance levels have quadrupled so far this year against 2013, with 177 companies raising $55.5 billion. London has proved a particularly attractive destination, accounting for $19.8 billion of the total.