Joules eyeing £150m IPO this spring

Endaba Group

Fashion retailer famed for its colourful clothes is preparing for a £150-plus stock market listing. Brokers Liberum and Peel Hunt have been appointed to run the flotation. They are planning to come to market in April or May and will allow Tom Joule, who built the business up, to regain some of his investment; he owns 80% of the business whilst private equity house LDC owns the remaining 20%, having put £22m into the retailer three years before.

Their revenues rose 21.6% to £117.1m in the 12 months to May, furthered by their new shop openings.