May 21 British clothing chain Fat Face
IPO-FFFL.L is expected to abort its planned listing following
disappointing stock market debuts by rivals, Sky News reported
The company, owned by European private equity group
Bridgepoint, decided on Wednesday evening to call off
its initial public offering which was due to raise 110 million
pounds, Sky said.
Sky said an announcement could be made as soon as Thursday.
(link.reuters.com/tuh59v) Fat Face representatives could
not be reached outside of normal business hours for comment.
According to Sky, advisers to FatFace are said to have told
board members that there was insufficient demand at the level at
which it wanted to sell shares to new investors.
City insiders told Sky that the decision was less a
reflection of Fat Face's appeal to prospective shareholders and
more about a broader change in confidence among City
Fat Face, whose two founders began by selling T-shirts from
a VW camper van in the French Alps, has more than 200 stores in
Britain and Ireland.
The company, known for its outdoors activewear, abandoned
attempts to target younger shoppers and returned to its
middle-aged core market, guided by former Marks and Spencer head
Stuart Rose, who joined as chairman in 2013.
(Reporting by Aashika Jain in Bangalore; Editing by Grant