Victorian Plumbing to make Aim’s biggest ever debut | Business
Concerns that investor appetite for new listings is waning has been allayed by plans for the largest IPO in London’s junior stock market.
Victorian Plumbing, an online bathroom accessories company, will float on Aim in an initial public offering of £850 million, resulting in a payday of around £280 million for the founder’s family.
Mark Radcliffe, 42, started Victorian plumbing in 2000 from his parents’ garden shed after setting up a website for his father, who restored Victorian bathrooms as a hobby. He gave his brother, Neil, who works as a product director, and parent stakes in the company.
Radcliffe sells its stake from 72 percent to 46 percent in the IPO, resulting in a payday of £212.2 million, while his remaining