Tech

Online reviews platform Trustpilot plans London IPO

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Key Points
  • Trustpilot said it's considering an IPO in London that would see at least 25% of the company floated on the London Stock Exchange.
  • The offer would comprise new shares raising proceeds of around $50 million and an offer of existing shares to be sold by early backers.
  • The deal, if successful, would be the third major London listing in 2021 so far.
A pedestrian walks past the London Stock Exchange (LSE) in London, U.K., on Friday, March 13, 2020.
Hollie Adams | Bloomberg | Getty Images

Reviews website Trustpilot said on Monday it is considering launching an initial public offering (IPO) in London that would see at least 25% of the company floated on the London Stock Exchange.

Trustpilot said in a registration document the offer would comprise new shares raising proceeds of around $50 million and an offer of existing shares to be sold by certain existing shareholders, directors and employees.

The company is targeting a premium listing on the London bourse expects that it would be eligible for inclusion in FTSE UK indices as a result.

The publication of an "intention to float" — which would signal the launch of the IPO — is expected in the near future.

The deal, if successful, would be the third major London listing in 2021 so far, with classic boot brand Dr Martens and online card retailed Moonpig completing IPOs earlier in the year.

JPMorgan and Morgan Stanley are global coordinators on the deal and bookrunners along with Berenberg and Danske Bank.