The proprietor of Waterstones is on the verge of enlisting bankers to facilitate a multibillion-pound listing of the transatlantic bookseller. It has come to light that Elliott Management is gearing up to engage Rothschild as an independent adviser for its flotation options, with a public market debut expected to occur in the second quarter of this year.
Insiders have revealed that Rothschild’s probable involvement signifies that London is positioned favorably to outshine New York in the competition to host the listing of one of the globe’s top book retailers. Apart from Waterstones, the conglomerate also possesses Barnes & Noble, which operates from numerous stores in the US. In the UK, the company operates approximately 315 stores and sustains a workforce of around 4,000 individuals.
The company has experienced a significant transformation under the guidance of James Daunt, the founder of the namesake retail chain, which he owns separately. Sky News had previously reported in October that Mr. Daunt was present at a roundtable hosted by Rachel Reeves, the chancellor, aimed at promoting the London Stock Exchange as a listing venue.
In the past month, the Financial Times disclosed that the company had initiated discussions with potential advisers regarding a deal. Several other banks will be appointed in the upcoming months to supervise the public listing and share sale.
Elliott Management opted not to provide a comment.
SOURCE