Former WH Smith chief Kate Swann heading for windfall in bumper £1bn stock market listing by bespoke greetings card firm Moonpig.com
Former WH Smith chief Kate Swann is heading for a windfall in a bumper £1billion stock market listing by bespoke greetings card firm Moonpig.com.
Swann, the company’s chairwoman and one of Britain’s most respected business leaders, will net up to £7million if the share sale succeeds.
Chief executive Nickyl Raithatha will get around £11million. Finance director Andy MacKinnon will also benefit, taking the total shared among the three to around £20 million. The windfall will be in new shares in exchange for existing stock.
Bonanza: Many of the Moonpig’s 450 staff are also expected to be given shares
It is likely any future sale of their shares will be conditional, tying them into the future of the business which takes orders online and delivers cards, gifts and flowers.
Many of the firm’s 450 staff are also expected to be given shares. Founder and Dragons’ Den star Nick Jenkins sold his remaining shares in 2016.
The firm declined to comment on any allocation of shares or one-off payments.
It is 41 per cent owned by Exponent Private Equity Partners which has lined up several investment banks to handle the fundraising.
Moonpig launched the plan last week in what appears to be a resurgence in London share sales after a Brexit deal removed uncertainty.
In another windfall, yesterday it was reported energy giant EDF may float London-based vehicle charging firm Pod Point netting founder Erik Fairbairn a fortune.