Waterstones boss raises hopes of City float
James Daunt, the boss of Waterstones, this weekend said the London stock exchange is an attractive market for retail businesses, raising hopes the bookseller will stage a float in the City.
Daunt, who also runs US bookshop Barnes & Noble, told The Mail on Sunday that the Square Mile would be a good home for Waterstones, though he conceded the US market had the edge for tech firms.
Daunt, who splits his time between London and New York, noted the resurgence of Marks & Spencer, and Next's consistent performance on London's stock exchange.
He said: 'Waterstones is a solid, predictable retailer with steady growth and dividend payouts. Our business is like Next. We are moderate and predictable.'
Staying afloat: Waterstones has been owned by private equity firm Elliott since 2018
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The chain has been owned by private equity firm Elliott since 2018, but he said: 'At some point in the near future it will look to cash in its chips.'
The London stock market has been hollowed out in recent years. Royal Mail is set to fall into the hands of Czech billionaire Daniel Kretinsky, while private equity giant Bain Capital has been circling defence firm Chemring.
Daunt's comments will come as a relief to London Stock Exchange boss Julia Hoggett, who has been driving changes in a bid to stop the exodus.
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