Soho House owner searches for files for New York flotation

The owner of Soho House, a privately held club, has made a preliminary public offering as the company seeks to capitalize on growing investor interest in the stock.

The membership group, which, among other properties, has 28 “Soho House” retailers, said on Monday it intends to list its shares on the New York Stock Exchange under the “MCG” sign.

The company stated in its application to the Securities and Exchange Commission that it intends to raise $ 100 million. It has yet to determine the number of shares it offers or the price range for those shares.

The return of summer travel և demand for lunch’s summer, reinforced by the Covid-19 vaccine, has led to speculation that MCG evaluation more than the $ 2 billion set in the $ 100 million funding phase last year.

The host group, backed by American billionaire Ron Berkeley, says its membership is stable during the epidemic. In fiscal year 2020, it retained 92 percent of Soho House members, receiving more than 30,000 applications for its membership brands, according to the S-1 submission.

Revenue for the first quarter of this year was $ 72 million, compared to $ 142 million in the same period last year. It also reported a net loss of $ 93 million, compared to a loss of $ 45 million in 2020.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button