Jimmy Choo floats at bottom of expected range

Luxury shoemaker Jimmy Choo made its market debut this morning after pricing its shares at the bottom of its expected range.

The company is understood to have initially targeted a range of 140p to 180p, but today set its flotation price at 140p a share, valuing the firm at £545.6 million.

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Following the sale of a 25.9 per cent stake in the company, owner JAB Luxury will receive gross proceeds of £141m and will retain 70.2 per cent of the issued share capital.

Jimmy Choo chief executive Pierre Denis said: “Today’s announcement marks an important milestone for Jimmy Choo and recognises not only the appeal of our high-quality products but also confidence in our ability to outperform the luxury shoe market.”