Online cards retailer Moonpig sends greeting to London stock market

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Exponent Private Equity is talking to bankers about options for Moonpig that include an IPO, Sky News learns.

An online greeting cards retailer which has thrived during the coronavirus pandemic is exploring a stock market flotation that would crystallise big gains for its backers.

Sky News has learnt that Moonpig Group, which has been owned by Exponent Private Equity since 2016, is in talks with investment banks about options that include a public listing. The discussions are at an early stage and no decision has been taken yet by Exponent about whether to proceed with a float, according to insiders.

Moonpig, which has built its brand in the UK through a spate of television of advertising campaigns, sells online greeting cards and gifts. It has captured market share from high street rivals such as Clintons, and has seen sales and profits soar during the coronavirus crisis.During the first two months of the UK-wide lockdown, the company claims to have added 1m customers, and was the UK's leading shopping app during the summer period.

 

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