Softcat sets IPO date after £472.3m valuation

Martin Hellawell boasts 'very positive response' from investors

Softcat is expected to float on the London Stock Exchange (LSE) next Wednesday after today announcing the pricing of its IPO, which values it at £472.3m.

Last month, Softcat formally announced its plans to float, after first hinting it could be an option to CRN last summer.

The Marlow-based reseller is expected to trade on the LSE on 18 November, and to mark its arrival, it will open the day's trading.

Softcat claims to have secured "a number of high-quality institutional investors" and its chief executive Martin Hellawell (pictured) said the IPO plans have met a "very positive" response.

The firm, which has more than 850 staff and four regional offices, also announced the appointment of Advanced Computer Software chief executive Vin Murria as non-executive director, boasting about her "significant public company experience".

Murria is one of three newly appointed non-exec directors – former Domino's Pizza CFO Lee Ginsberg joined last month, as well as Peter Ventress.

Softcat's Hellawell said he is excited for the IPO but the company's core values will not change.

"We are delighted with the outcome of the IPO process thus far and now look forward to fully focusing on the running and future development of our business," he said.

"The Softcat employees have done a fantastic job to get us to this stage and I would like to thank them, as well as our customers and partners, for the great support and encouragement they have given us. We look forward to driving the company forward together.

"We will remain focused on the things that matter most to us, namely: being a great place to work for our employees; providing outstanding service to our customers; and creating shareholder return. At Softcat, at least, we firmly believe those factors are all intrinsically linked."