23rd Aug 2021 07:22
(Alliance News) - Online marketplace Fruugo is eyeing up an initial public offering on the London Stock Exchange as soon as this autumn, Sky News reported Sunday.
Ulverston, Cumbria-headquartered Fruugo is working with brokers Panmure Gordon on a plan to join the growing number of technology firms listing in the City this year, Sky said.
It was unclear how much Fruugo will seek to raise from a London listing, Sky said, although one insider said the company would likely get a valuation of "several hundred million pounds".
https://news.sky.com/story/online-marketplace-fruugo-joins-london-tech-listings-rush-12387974
Founded in 2006, Fruugo is a localised online marketplace where customers can buy products from retailers all around the world. The tech startup lets small and medium-sized retailers market themselves globally by acting as a digital platform with operations in 46 countries.
The company, which was started by current Executive Chair Dominic Allonby, will join a growing number of tech firms, including Wise PLC, Darktrace PLC and Deliveroo PLC, to have listed in London this year.
By Will Paige; [email protected]
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