Dr. Martens valued at £ 3.7 billion at its stock market debut

Seven years ago, financial investor Permira paid just EUR 380 million for the cult shoe manufacturer.

The cult shoe manufacturer Dr. Martens is valued at £ 3.7 billion on its stock market debut on Friday. The shares were allotted at 370 pence each, the company announced.

High demand

In view of the high demand, Dr. Martens increased the issue by 52.5 million shares to 402.5 million. The proceeds add up to 1.49 billion pounds.

The shares were eight times oversubscribed, explained Dr. Martens. The financial investor Permira paid just € 380 million for the company seven years ago.