Boohoo.com Plc has revealed that two other family members of the company’s founder’s will land a fortune from the company’s IPO, according to a stock market filing yesterday.
The initial public offering is estimated to value the firm at around £500 million. But yesterday’s documents released via the London Stock Exchange revealed that Jalal and Rabia Kamani, understood to be son and daughter of the founder respectively, own 14.7 per cent of the company each.
Their father Mahmud owns 52.9 per cent and Carol Kane owns 9.5 per cent. That means Kamani’s children stand to earn about £75 million each when the business their father co-founded floats later this month.
It is not yet known how many shares the Kamanis and Kane plan to sell. The founder of AO.com John Roberts sold less than a third of his shares when he floated the business as AO World last week. Clare Hughes is also listed as a shareholder with 3.9 per cent.
The filing also confirmed that Kane and Kamani would be joint chief executives and Neil Catto would be chief financial officer.
Five non-executive directors were named as Peter Williams, who will become chairman, former Shop Direct boss Mark Newton-Jones, Stephen Morana, currently Zoopla finance director, financier David Forbes and Petar Cvetkovic.
For more on Boohoo, see our Online Retail Stars of 2013 Report: Boohoo.com.
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