Kitchenware brand ProCook confirms London IPO plans

Kitchenware brand ProCook has confirmed its intention to float on the main market of the London Stock Exchange.

The company, which had already announced last week that it was considering the move, said this will include an offer of existing shares to be sold by existing shareholders. According to reports, the IPO will value the group at around £250m.

ProCook said on Friday that the IPO will support growth plans by increasing its public profile and brand awareness; further improve its ability to attract and retain high quality talent; and create a liquid market in the shares for existing and future shareholders.

The offer will be targeted to certain institutional investors in the UK and to institutional investors "located elsewhere outside of the United States", it said, and in the US "to a limited number of qualified institutional buyers" .

The admission is expected to take place next month.