ScS floats on the Stock Exchange

Sunderland-headquartered sofa giant ScS has floated on the London Stock Exchange in a move expected to raise £35m for the selling shareholder.

The company said today will be its first day of dealings after admitting its entire issued ordinary share capital consisting of 40,000,000 ordinary shares of 0.1 pence each.
Parlour Products Holdings, an affiliate of Sun European Partners (the selling shareholder), will hold approximately 41.6 per cent of the issued ordinary share capital of the company on admission. ScS will not receive any proceeds from the sales of ordinary shares in the offer.

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