City PR agency Brunswick on board for long-awaited Ocado listing

Yesterday afternoon Ocado confirmed its eagerly anticipated £400m listing on the London Stock Exchange, with City PR heavyweight Brunswick handling financial communications.

Ocado founders: Tim Steiner, Jason Gissing and Jonathan Faiman (L-R)
Ocado founders: Tim Steiner, Jason Gissing and Jonathan Faiman (L-R)

The company said yesterday it plans to issue £200m of new shares and existing shareholders to sell a ‘similar’ amount.

Ocado, which delivers Waitrose products, will also offer customers who have spent more than £300 this year the chance to subscribe.

Brunswick’s involvement will be led by partner David Yelland and director Alison Poole, with support from parter Tom Buchanan. The agency has worked with Ocado in the past.

Media reports this morning have noted the element of risk in listing a business which has never made a bottom-line profit since its 2000 inception, particularly in difficult market conditions that have seen other flotations fail to woo investors.

Brunswick led comms on the float of New Look, which was scrapped in February. The agency subsequently lost the account to Tulchan Communications.

The Tulchan-led Merlin Entertainment also pulled a planned IPO earlier this year, as did FD-advised travel technology firm Travelport.

Ocado was established by three Goldman Sachs bankers (pictured), Tim Steiner (CEO), Jason Gissing (CFO) and Jonathan Faiman (COO).

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