Patisserie Valerie group valued at £170million
INVESTORS showed a keen appetite for the owner of cake and café chain Patisserie Valerie after it was valued at £170million ahead of its stock market flotation.
Patisserie Holdings priced its shares at the bottom of a 170p-200p range as it raised £32.8million.
They raced 25p higher to 195p as conditional dealing got under way.
Executive chairman Luke Johnson, who owns nearly 43 per cent of the company, described the placing as a “key step” in the development of the group, which has grown to 138 stores.