Online UK retailer set to float for €500m
24/12/2004 - 08:58:12Online retailer Ocado is planning a flotation that will bring a €140m windfall for its three founders, it was reported today.
The group, which is the third-largest online grocer in the UK and sells food from British supermarket chain Waitrose, is expected to be valued at around €500m.
According to the Financial Times, Ocado will seek a stock market listing in the summer of 2006 – just six years after it was set up by three former Goldman Sachs bankers.
Tim Steiner, Jason Gissing and Jonathan Faiman stand to gain from selling their 27% stake in the company they founded.
