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.
