Made.com, the online furniture retailer, has revealed that the pricing of its London stock market flotation will give it a market value of £775m.

The UK firm, which also operates a small network of stores, said it would list its shares on Wednesday at 200p.

Its initial public offering (IPO) – through plans first revealed by Sky News – will comprise 50 million new shares, raising gross proceeds of £100m, and 46.9 million shares to be sold by existing shareholders.

It amounts to a total offer of £193.8m – excluding any over-allotment of up to 14.5 million shares.

If exercised in full, that would increase the number of shares in the offer to 29% of the company’s issued share capital.

Made.com, which was launched in 2010 and operates across eight European countries, has seen sales surge during the COVID-19 pandemic.

The business has thrived as a pure-play e-commerce retailer during the last 12 months, meaning it is not burdened by legacy costs from high street shops.

More than half its sales are now in mainland Europe, where it is understood to see substantial growth potential in markets such as Germany.

In addition to furniture, the platform sells home accessories and other related products.

Made.com’s shareholders include Brent Hoberman, one of the co-founders of Lastminute.com, who established the business as a joint venture between Mydeco.com and Ning Li, a Chinese entrepreneur.

The furniture specialist is the latest firm to jump on the IPO bandwagon in London this year, following in the footsteps of Dr Martens, Deliveroo.

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