Bolton firm AO.com valued at £1.2 billion as it floats on stock market

AO.com chief executive John Roberts

AO.com chief executive John Roberts

First published in News
Last updated
The Bolton News: Photograph of the Author by , reporter

BOLTON appliances website AO.com has been valued at a staggering £1.2 billion as its shares were offered on the London Stock Exchange for the first time this morning.

The white goods retailer was listed conditionally this morning with a share price range of between 235p and 285p.

This means the firm’s total listed value is between £1 billion and £1.2 billion — more than 100 times its earnings last year.

AO.com, owned by DRL Holdings, will be reregistered and renamed as AO PLC, ahead of being unconditionally listed on March 3.

Following admission, chief executive John Roberts will hold 28.6 per cent of shares, while finance director Steve Caunce will hold 13.6 per cent.

The flotation represents the largest e-commerce initial public offering (IPO) since online supermarket Ocado floated in 2010.

AO.com — formerly known as Appliances Online — sells about 4,000 products from more than 30 appliance brands, as well as installing, removing and recycling old appliances.

About £60 million is to be raised by AO.com to be spent on the group’s efforts to expand into Germany and branch out into new product categories.

Mr Roberts said: “A London listing will give us the platform to continue to grow our business. Ultimately, it is our ambition to be a leading European online electrical retailer."

Appliances Online was founded in 2001 and is still based in Bolton, at its headquarters in The Parklands, Lostock

Comments (4)

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8:23pm Wed 26 Feb 14

JustBecause says...

Good luck to them, hopefully it's sustainable, customer service from experience is not good, and the constant harassment regarding extended warranties means I will not use them again :(

All that said, they are clearly doing something right.
Good luck to them, hopefully it's sustainable, customer service from experience is not good, and the constant harassment regarding extended warranties means I will not use them again :( All that said, they are clearly doing something right. JustBecause
  • Score: 4

9:33am Thu 27 Feb 14

Comment777 says...

They will lose money trying to compete in Germany...Mediamarkt and Saturn have the market ...

100 times earnings?????
They will lose money trying to compete in Germany...Mediamarkt and Saturn have the market ... 100 times earnings????? Comment777
  • Score: 1

1:02pm Thu 27 Feb 14

boltonnut says...

Floating on the stock exchange............
watch out for the sharks.
Floating on the stock exchange............ watch out for the sharks. boltonnut
  • Score: 0

5:51pm Thu 27 Feb 14

rickyman49 says...

Hope he is a Wanderers supporter?
Hope he is a Wanderers supporter? rickyman49
  • Score: 1

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