Soho House – a London-based group of posh private clubs – plans to go public across the pond, a new report says.
The British company confidentially filed papers with the US Securities and Exchange Commission this week to list itself on the New York Stock Exchange at a valuation of more than $ 3 billion: UK’s Sky News reported Thursday
According to reports, the filing came about three years after the IPO was last planned for the IPO in 2018.
Latest bid works since at least February The Times of London reported Soho House hired Wall Street veterans JP Morgan and Morgan Stanley, as it was an advantage for the stock market.
According to Sky News, the company raised a group of private funding last summer, but decided to chase more capital through the public market.
Soho House declined to comment on Thursday.
Soho House runs 27 clubs in 10 countries, including three in New York City, the event venue and a group of co-working spaces called “Soho Works”.
The chain’s business is reportedly put on hold through the coronovirus crisis. Nearly 10,000 of its 110,000 members – whose ranks include Prince Harry and supermodel Kate Moss – also canceled their membership as the epidemic closed their locations. Financial Times report Last year.
While Soho House shares its name with the neighborhood in London, where its first club opened in 1995, the company is owned mostly by billionaire American investor Ron Turkle.
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