Successful listing for Luceco on London Stock Exchange

Luceco, the manufacturer and distributor of high quality and innovative LED lighting products and wiring accessories, announces its successful initial public offering, having started trading on the London Stock Exchange’s main market on 20 October 2016.

The listing raised gross proceeds of £93 million, giving the Company an initial market capitalisation of around £209m, which has subsequently increased to £235m. The proceeds of the flotation will be used to help boost the Group’s profile, whilst also giving the Group the financial and operational flexibility to maintain its strong growth rate and pursue its development strategy.

Luceco supplies trade distributors, retailers, wholesalers and project developers with a wide range of products across its four key brands of BG Electrical, Masterplug, Ross and Luceco LED Lighting, working with a blue chip customer base that includes Tesco, B&Q and Screwfix.

John Hornby, Chief Executive of Luceco, commented: “As a fast growing and innovative business, finding new sources of financing is key to the Group’s future success, and the support we have received for our flotation is an excellent sign that investors in the City have recognised both our success to date and our prospects.

“This is an extremely exciting milestone in the Group’s history. Although, we may be more in the public eye, ultimately it remains business as usual for Luceco. The strength of our relationships with our customers has been a key element of our success and I would like to take this opportunity to thank them for their continued support.”