Introduction to Waterstones’ Stock Market Listing
The owner of Waterstones is close to hiring bankers to work on a multi-billion dollar stock market listing for the transatlantic bookseller. This move is expected to take place as early as the second quarter of this year.
Preparations for the Listing
Elliott Management is preparing to appoint Rothschild as an independent adviser to its stock options. Sources said Rothschild’s likely involvement was the clearest sign yet that London had a good chance of triumphing over New York in the battle to list one of the world’s leading booksellers.
About the Company
In addition to Waterstones, the group also includes Barnes & Noble, which trades in hundreds of stores across the US. The company operates around 315 stores in Great Britain and employs around 4,000 people. It was remodeled under the leadership of James Daunt, founder of the eponymous retail chain he owns.
Previous Discussions
Last month, discussions with potential advisers about a deal were reported. In the coming months, a number of other banks will be appointed to oversee the listing and share sales.
Update on the Process
The company’s leadership has been engaged in promoting the London Stock Exchange as a trading venue. A round table hosted by the Chancellor sought to promote the London Stock Exchange, and the company’s leader was among those present.
Conclusion
Elliott declined to comment on the matter. The upcoming listing is expected to be a significant development for the company and the stock market.
