It’s a bumpy debut for shares in the Duchess of Cambridge’s favourite maternity brand Seraphine
Royal favourite: The Duchess of Cambridge in a Seraphine coat
The Duchess of Cambridge’s favourite maternity brand has listed on the London Stock Exchange with a £150million valuation. Shares in Seraphine, which floated under the ticker ‘Bump’, ended the day at 285.5p.
Its private equity owners Mayfair Equity Partners, which backed a management buy- out in December, cashed out £10.9million of its stake, but retained a holding of 42.7 per cent, worth £62million.
Chief executive David Williams sold £1.8million of shares, leaving him with a £6.8million stake, and brand director Chelsey Oliver pocketed £1.2million, retaining a £3.8million stake. The company and managers have earned a return on their investment of more than 70 per cent in just eight months.
It came as Revolution Beauty said it will join the public markets on Monday, with a £495million valuation.
Its two founders Adam Minto, 51, and Tom Allsworth, 55, each sold £15.7million of shares and retained a combined stake worth £156million. Seraphine was founded in 2002 by Cecile Reinaud, 47, in London, after she started designing outfits for pregnant friends.
She and private equity backers, Bridgepoint Growth, sold their stakes in December.
Seraphine was the Duchess of Cambridge’s chosen brand for her three pregnancies, and its designs have also been worn by Pippa Middleton and actress Kate Hudson.
It raised £61million of fresh capital from the float.