Card Factory £297m Initial Public Offering, UK

2014

STJ Advisors acted as independent advisor to the company and the selling shareholder, Charterhouse, on the Initial Public Offering of Card Factory, the UK’s leading specialist retailer of greeting cards. The offering raised proceeds of £297 million, representing 38.6% of the company. The IPO priced despite weaker markets mainly due to a sharp sell-off in UK small and mid-cap stocks, negative performance of recent UK retail IPOs and overall IPO “fatigue” in the markets. STJ advised Card Factory and Charterhouse throughout the process.