Nickyl Raithatha, chief executive, said the accelerating shift to shopping online made this “the perfect time” to float and said there were opportunities to expand in the UK and internationally.
The company chaired by ex- WHSmith CEO Kate Swann also operates in the Netherlands, US and Australia.
Gerard Grech, head of the entrepreneurs network Tech Nation said Moonpig’s float in London “marks the beginning of an IPO campaign for 2021 and the golden age for UK tech.”
He said: “This signals the credibility of the UK to build on its position as a world leader and become the preferred location to IPO companies on the London Stock Exchange, even after Brexit”.
The Hut Group, which owns online retail brands and licenses its tech to others, floated for £4.5 billion last year and its shares have surged since.
Today it reported a 51% leap in revenues in the three months to the end of December, triggering a further 2% share price rise.
Founder Matthew Moulding said: “There have been some perceptions that London only understands old economy businesses and that tech firms need to go to the US to succeed. But we have been very well received here.
“The government should keep banging the drum for tech businesses to float in the UK. We can quickly get a real cluster of high growth tech businesses on the London Stock Exchange, which will then lead to a real tech community building out each year.”
Moonpig is being floated by Citi and JPMorgan. HSBC, Jefferies and Numis are joint bookrunners.
