31 May 2019
Investec supports Watches of Switzerland on London IPO
Investec Corporate and Investment Banking (“Investec”) has supported Watches of Switzerland PLC (“Watches of Switzerland” or the “Company”) on its IPO, acting as joint bookrunner on the transaction.
Watches of Switzerland is the leading multi-channel luxury watch retailer in the UK and a leading retailer of luxury watches in selected regions of the US, a resilient luxury product category in two of the most important global markets for luxury watches.
The stock was priced at 270p per share towards the top of an initial 250p – 277p price range, and rose by as much as 15 per cent on the first day of trading, giving Watches of Switzerland a market capitalisation in excess of £700m. The transaction raised £242m including £155m for the Company to reduce its leverage.
For more information, please contact:
Luke O’Mahony, Investec (Public Relations) - 020 7597 5261
Fatima Ismat, Lansons (Lansons PR agency for Investec CIB) - 020 7566 9709
Investec Corporate and Investment Banking
Investec CIB is an international corporate and investment bank working with growth-orientated companies, institutions and private equity funds. Our people set us apart – empowered, straightforward and invested in our clients’ long-term success. We provide capital solutions, advice and ideas, along with bespoke investment solutions and access to capital markets. Founded in 1974, The Investec Group has grown successfully through its client focussed approach and its ability to serve diverse and evolving financial needs.
This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604). Investec Corporate and Investment Banking is a brand name of Investec Bank plc, which is a member of the London Stock Exchange.
Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.