Hudson Sandler in foreword to Books etc float

Books etc., the London-based book chain, has recruited Hudson Sandler to advise on its planned stock market flotation.

Books etc., the London-based book chain, has recruited Hudson

Sandler to advise on its planned stock market flotation.



Hired last week, the agency was selected from a shortlist of three

following a recommendation from Books etc’s stockbroker Charterhouse

Tilney. Citigate Communications also pitched for the business.



Hudson Sandler chief executive Michael Sandler, who is leading the

account, explained that the appointment was brought forward after news

of the forthcoming flotation was leaked to the press last weekend.



He declined to reveal what the agency’s public relations strategy would

be, although he said that communications would be primarily aimed at

institutional investors and specialist retail analysts. Hudson Sandler

will also liaise closely with Books etc.’s chief executive Richard

Joseph.



Founded in 1981 when the Joseph family bought four book shops from

liquidators, Books etc. now has 20 outlets in London and the south east.

Thirty per cent of the company is owned by investment bank Hambros -

also a Hudson Sandler client - with the rest held by the Joseph

family.



Books etc. made profits of pounds 1.4 million in the year to January

1996 on sales of pounds 26 million. The float later this year is

expected to value the company at around pounds 30 million.



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