Soho House Valued at $2.8 Billion After Members-Only Club’s IPO

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Soho House Valued at $2.8 Billion After Members-Only Club’s IPO

Bloomberg2021-07-15

(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range. The...

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Membership Collective had marketed the shares for $14 to $16.\nThe listing gives Membership Collective a market value of $2.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.\nFounded in 1995 in London’s Soho district as a venue for executives in the creative industries, the group now has about 119,000 members, according to its filings. 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Membership Collective had marketed the shares for $14 to $16.</p>\n<p>The listing gives Membership Collective a market value of $2.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.</p>\n<p>Founded in 1995 in London’s Soho district as a venue for executives in the creative industries, the group now has about 119,000 members, according to its filings. New ventures including the Ned, the vast hotel and restaurant complex in the heart of the City of London, have broadened its appeal to other groups including finance workers.</p>\n<p>The company’s portfolio also includes nine workspaces in London, Los Angeles and New York and home-decor retailer Soho Home.</p>\n<p>Coronavirus pandemic lockdowns hit the company hard, with revenue slumping to $384 million in the fiscal year ended Jan. 3 from $642 million a year earlier, its filings show.</p>\n<p>Still, total membership revenue grew during the period as sign-ups across other brands helped offset a small decline in Soho House customers. The company, which hasn’t turned a profit, lost $93 million in the 13 weeks ended April 4, compared with $45 million for the equivalent period a year ago.</p>\n<p>As of early April, the company had $826 million in debt, which it plans to pay down using the IPO proceeds.</p>\n<p>Membership Collective is majority owned by Ron Burkle’s Yucaipa Cos., which will continue to control the company. Founder and Chief Executive Officer Nick Jones owns a minority stake, as does board member Richard Caring, who first invested in 2008.</p>\n<p>The company set aside a portion of its IPO shares for its employees and members in the U.K. and the U.S. in a program it’s calling the “Community Offer.”</p>\n<p>The offering is being led by JPMorgan Chase &amp; Co., <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> and $Bank of America Corp(BAC-N)$. The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol MCG.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Soho House Valued at $2.8 Billion After Members-Only Club’s IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoho House Valued at $2.8 Billion After Members-Only Club’s IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-15 15:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.\nThe...</p>\n\n<a href=\"https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2151299547","content_text":"(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.\nThe firm, which owns 28 Soho House clubs around the world, sold 30 million shares Wednesday for $14 each, according to a statement. Membership Collective had marketed the shares for $14 to $16.\nThe listing gives Membership Collective a market value of $2.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.\nFounded in 1995 in London’s Soho district as a venue for executives in the creative industries, the group now has about 119,000 members, according to its filings. New ventures including the Ned, the vast hotel and restaurant complex in the heart of the City of London, have broadened its appeal to other groups including finance workers.\nThe company’s portfolio also includes nine workspaces in London, Los Angeles and New York and home-decor retailer Soho Home.\nCoronavirus pandemic lockdowns hit the company hard, with revenue slumping to $384 million in the fiscal year ended Jan. 3 from $642 million a year earlier, its filings show.\nStill, total membership revenue grew during the period as sign-ups across other brands helped offset a small decline in Soho House customers. The company, which hasn’t turned a profit, lost $93 million in the 13 weeks ended April 4, compared with $45 million for the equivalent period a year ago.\nAs of early April, the company had $826 million in debt, which it plans to pay down using the IPO proceeds.\nMembership Collective is majority owned by Ron Burkle’s Yucaipa Cos., which will continue to control the company. Founder and Chief Executive Officer Nick Jones owns a minority stake, as does board member Richard Caring, who first invested in 2008.\nThe company set aside a portion of its IPO shares for its employees and members in the U.K. and the U.S. in a program it’s calling the “Community Offer.”\nThe offering is being led by JPMorgan Chase & Co., Morgan Stanley and $Bank of America Corp(BAC-N)$. The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol MCG.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":147328977,"gmtCreate":1626336474999,"gmtModify":1703758137645,"author":{"id":"3571190414518508","authorId":"3571190414518508","authorIdStr":"3571190414518508","name":"Chavvobimbo","avatar":"https://static.tigerbbs.com/9c51865ebe84e556253484a721fde46b","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3571190414518508"},"htmlText":"Tyhbvc","listText":"Tyhbvc","text":"Tyhbvc","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/147328977","repostId":2151299547,"repostType":4,"repost":{"id":"2151299547","pubTimestamp":1626333781,"share":"https://ttm.financial/m/news/2151299547?lang=&edition=fundamental","pubTime":"2021-07-15 15:23","market":"us","language":"en","title":"Soho House Valued at $2.8 Billion After Members-Only Club’s IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=2151299547","media":"Bloomberg","summary":"(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members cl","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/MCG\">Membership Collective Group Inc.</a>, the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.</p>\n<p>The firm, which owns 28 Soho House clubs around the world, sold 30 million shares Wednesday for $14 each, according to a statement. Membership Collective had marketed the shares for $14 to $16.</p>\n<p>The listing gives Membership Collective a market value of $2.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.</p>\n<p>Founded in 1995 in London’s Soho district as a venue for executives in the creative industries, the group now has about 119,000 members, according to its filings. New ventures including the Ned, the vast hotel and restaurant complex in the heart of the City of London, have broadened its appeal to other groups including finance workers.</p>\n<p>The company’s portfolio also includes nine workspaces in London, Los Angeles and New York and home-decor retailer Soho Home.</p>\n<p>Coronavirus pandemic lockdowns hit the company hard, with revenue slumping to $384 million in the fiscal year ended Jan. 3 from $642 million a year earlier, its filings show.</p>\n<p>Still, total membership revenue grew during the period as sign-ups across other brands helped offset a small decline in Soho House customers. The company, which hasn’t turned a profit, lost $93 million in the 13 weeks ended April 4, compared with $45 million for the equivalent period a year ago.</p>\n<p>As of early April, the company had $826 million in debt, which it plans to pay down using the IPO proceeds.</p>\n<p>Membership Collective is majority owned by Ron Burkle’s Yucaipa Cos., which will continue to control the company. Founder and Chief Executive Officer Nick Jones owns a minority stake, as does board member Richard Caring, who first invested in 2008.</p>\n<p>The company set aside a portion of its IPO shares for its employees and members in the U.K. and the U.S. in a program it’s calling the “Community Offer.”</p>\n<p>The offering is being led by JPMorgan Chase &amp; Co., <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> and $Bank of America Corp(BAC-N)$. The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol MCG.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Soho House Valued at $2.8 Billion After Members-Only Club’s IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoho House Valued at $2.8 Billion After Members-Only Club’s IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-15 15:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.\nThe...</p>\n\n<a href=\"https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2151299547","content_text":"(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.\nThe firm, which owns 28 Soho House clubs around the world, sold 30 million shares Wednesday for $14 each, according to a statement. Membership Collective had marketed the shares for $14 to $16.\nThe listing gives Membership Collective a market value of $2.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.\nFounded in 1995 in London’s Soho district as a venue for executives in the creative industries, the group now has about 119,000 members, according to its filings. New ventures including the Ned, the vast hotel and restaurant complex in the heart of the City of London, have broadened its appeal to other groups including finance workers.\nThe company’s portfolio also includes nine workspaces in London, Los Angeles and New York and home-decor retailer Soho Home.\nCoronavirus pandemic lockdowns hit the company hard, with revenue slumping to $384 million in the fiscal year ended Jan. 3 from $642 million a year earlier, its filings show.\nStill, total membership revenue grew during the period as sign-ups across other brands helped offset a small decline in Soho House customers. The company, which hasn’t turned a profit, lost $93 million in the 13 weeks ended April 4, compared with $45 million for the equivalent period a year ago.\nAs of early April, the company had $826 million in debt, which it plans to pay down using the IPO proceeds.\nMembership Collective is majority owned by Ron Burkle’s Yucaipa Cos., which will continue to control the company. Founder and Chief Executive Officer Nick Jones owns a minority stake, as does board member Richard Caring, who first invested in 2008.\nThe company set aside a portion of its IPO shares for its employees and members in the U.K. and the U.S. in a program it’s calling the “Community Offer.”\nThe offering is being led by JPMorgan Chase & Co., Morgan Stanley and $Bank of America Corp(BAC-N)$. The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol MCG.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":147315467,"gmtCreate":1626334573759,"gmtModify":1703758100826,"author":{"id":"3584067303103958","authorId":"3584067303103958","authorIdStr":"3584067303103958","name":"Coldfire","avatar":"https://static.tigerbbs.com/e679d6449b0909ea77f1b0f70da61a0a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3584067303103958"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/147315467","repostId":2151299547,"repostType":4,"repost":{"id":"2151299547","pubTimestamp":1626333781,"share":"https://ttm.financial/m/news/2151299547?lang=&edition=fundamental","pubTime":"2021-07-15 15:23","market":"us","language":"en","title":"Soho House Valued at $2.8 Billion After Members-Only Club’s IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=2151299547","media":"Bloomberg","summary":"(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members cl","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/MCG\">Membership Collective Group Inc.</a>, the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.</p>\n<p>The firm, which owns 28 Soho House clubs around the world, sold 30 million shares Wednesday for $14 each, according to a statement. Membership Collective had marketed the shares for $14 to $16.</p>\n<p>The listing gives Membership Collective a market value of $2.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.</p>\n<p>Founded in 1995 in London’s Soho district as a venue for executives in the creative industries, the group now has about 119,000 members, according to its filings. New ventures including the Ned, the vast hotel and restaurant complex in the heart of the City of London, have broadened its appeal to other groups including finance workers.</p>\n<p>The company’s portfolio also includes nine workspaces in London, Los Angeles and New York and home-decor retailer Soho Home.</p>\n<p>Coronavirus pandemic lockdowns hit the company hard, with revenue slumping to $384 million in the fiscal year ended Jan. 3 from $642 million a year earlier, its filings show.</p>\n<p>Still, total membership revenue grew during the period as sign-ups across other brands helped offset a small decline in Soho House customers. The company, which hasn’t turned a profit, lost $93 million in the 13 weeks ended April 4, compared with $45 million for the equivalent period a year ago.</p>\n<p>As of early April, the company had $826 million in debt, which it plans to pay down using the IPO proceeds.</p>\n<p>Membership Collective is majority owned by Ron Burkle’s Yucaipa Cos., which will continue to control the company. Founder and Chief Executive Officer Nick Jones owns a minority stake, as does board member Richard Caring, who first invested in 2008.</p>\n<p>The company set aside a portion of its IPO shares for its employees and members in the U.K. and the U.S. in a program it’s calling the “Community Offer.”</p>\n<p>The offering is being led by JPMorgan Chase &amp; Co., <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> and $Bank of America Corp(BAC-N)$. The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol MCG.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Soho House Valued at $2.8 Billion After Members-Only Club’s IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoho House Valued at $2.8 Billion After Members-Only Club’s IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-15 15:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.\nThe...</p>\n\n<a href=\"https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2151299547","content_text":"(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.\nThe firm, which owns 28 Soho House clubs around the world, sold 30 million shares Wednesday for $14 each, according to a statement. Membership Collective had marketed the shares for $14 to $16.\nThe listing gives Membership Collective a market value of $2.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.\nFounded in 1995 in London’s Soho district as a venue for executives in the creative industries, the group now has about 119,000 members, according to its filings. New ventures including the Ned, the vast hotel and restaurant complex in the heart of the City of London, have broadened its appeal to other groups including finance workers.\nThe company’s portfolio also includes nine workspaces in London, Los Angeles and New York and home-decor retailer Soho Home.\nCoronavirus pandemic lockdowns hit the company hard, with revenue slumping to $384 million in the fiscal year ended Jan. 3 from $642 million a year earlier, its filings show.\nStill, total membership revenue grew during the period as sign-ups across other brands helped offset a small decline in Soho House customers. The company, which hasn’t turned a profit, lost $93 million in the 13 weeks ended April 4, compared with $45 million for the equivalent period a year ago.\nAs of early April, the company had $826 million in debt, which it plans to pay down using the IPO proceeds.\nMembership Collective is majority owned by Ron Burkle’s Yucaipa Cos., which will continue to control the company. Founder and Chief Executive Officer Nick Jones owns a minority stake, as does board member Richard Caring, who first invested in 2008.\nThe company set aside a portion of its IPO shares for its employees and members in the U.K. and the U.S. in a program it’s calling the “Community Offer.”\nThe offering is being led by JPMorgan Chase & Co., Morgan Stanley and $Bank of America Corp(BAC-N)$. The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol MCG.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5226950,"gmtCreate":1626335128000,"gmtModify":1663231003344,"authorId":3570063321997588,"author":{"id":3570063321997588,"authorId":3570063321997588,"name":"hitithard","avatar":"https://static.tigerbbs.com/309ce7b357018aa7b946332c2fe8725c","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"93.27%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":147315467,"type":1,"supId":0,"prevId":0,"content":"Comment on my comment","text":"Comment on my comment","html":"Comment on my comment"},{"id":5227124,"gmtCreate":1626336483288,"gmtModify":1663231001239,"authorId":3571190414518508,"author":{"id":3571190414518508,"authorId":3571190414518508,"name":"Chavvobimbo","avatar":"https://static.tigerbbs.com/9c51865ebe84e556253484a721fde46b","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":147315467,"type":1,"supId":0,"prevId":0,"content":"Hdsndn","text":"Hdsndn","html":"Hdsndn"}],"langContent":"EN"},{"id":147311571,"gmtCreate":1626334201593,"gmtModify":1703758095164,"author":{"id":"4089165323477880","authorId":"4089165323477880","authorIdStr":"4089165323477880","name":"AndyChai","avatar":"https://static.tigerbbs.com/ad29465bea6ca4af4cbda6b96654b7ee","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4089165323477880"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/147311571","repostId":2151299547,"repostType":4,"repost":{"id":"2151299547","pubTimestamp":1626333781,"share":"https://ttm.financial/m/news/2151299547?lang=&edition=fundamental","pubTime":"2021-07-15 15:23","market":"us","language":"en","title":"Soho House Valued at $2.8 Billion After Members-Only Club’s IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=2151299547","media":"Bloomberg","summary":"(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members cl","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/MCG\">Membership Collective Group Inc.</a>, the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.</p>\n<p>The firm, which owns 28 Soho House clubs around the world, sold 30 million shares Wednesday for $14 each, according to a statement. Membership Collective had marketed the shares for $14 to $16.</p>\n<p>The listing gives Membership Collective a market value of $2.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.</p>\n<p>Founded in 1995 in London’s Soho district as a venue for executives in the creative industries, the group now has about 119,000 members, according to its filings. New ventures including the Ned, the vast hotel and restaurant complex in the heart of the City of London, have broadened its appeal to other groups including finance workers.</p>\n<p>The company’s portfolio also includes nine workspaces in London, Los Angeles and New York and home-decor retailer Soho Home.</p>\n<p>Coronavirus pandemic lockdowns hit the company hard, with revenue slumping to $384 million in the fiscal year ended Jan. 3 from $642 million a year earlier, its filings show.</p>\n<p>Still, total membership revenue grew during the period as sign-ups across other brands helped offset a small decline in Soho House customers. The company, which hasn’t turned a profit, lost $93 million in the 13 weeks ended April 4, compared with $45 million for the equivalent period a year ago.</p>\n<p>As of early April, the company had $826 million in debt, which it plans to pay down using the IPO proceeds.</p>\n<p>Membership Collective is majority owned by Ron Burkle’s Yucaipa Cos., which will continue to control the company. Founder and Chief Executive Officer Nick Jones owns a minority stake, as does board member Richard Caring, who first invested in 2008.</p>\n<p>The company set aside a portion of its IPO shares for its employees and members in the U.K. and the U.S. in a program it’s calling the “Community Offer.”</p>\n<p>The offering is being led by JPMorgan Chase &amp; Co., <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> and $Bank of America Corp(BAC-N)$. The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol MCG.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Soho House Valued at $2.8 Billion After Members-Only Club’s IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoho House Valued at $2.8 Billion After Members-Only Club’s IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-15 15:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.\nThe...</p>\n\n<a href=\"https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/soho-house-valued-2-8-025043287.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2151299547","content_text":"(Bloomberg) -- Membership Collective Group Inc., the company behind the trendy Soho House members clubs, raised $420 million in an initial public offering priced at the bottom of a marketed range.\nThe firm, which owns 28 Soho House clubs around the world, sold 30 million shares Wednesday for $14 each, according to a statement. Membership Collective had marketed the shares for $14 to $16.\nThe listing gives Membership Collective a market value of $2.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.\nFounded in 1995 in London’s Soho district as a venue for executives in the creative industries, the group now has about 119,000 members, according to its filings. New ventures including the Ned, the vast hotel and restaurant complex in the heart of the City of London, have broadened its appeal to other groups including finance workers.\nThe company’s portfolio also includes nine workspaces in London, Los Angeles and New York and home-decor retailer Soho Home.\nCoronavirus pandemic lockdowns hit the company hard, with revenue slumping to $384 million in the fiscal year ended Jan. 3 from $642 million a year earlier, its filings show.\nStill, total membership revenue grew during the period as sign-ups across other brands helped offset a small decline in Soho House customers. The company, which hasn’t turned a profit, lost $93 million in the 13 weeks ended April 4, compared with $45 million for the equivalent period a year ago.\nAs of early April, the company had $826 million in debt, which it plans to pay down using the IPO proceeds.\nMembership Collective is majority owned by Ron Burkle’s Yucaipa Cos., which will continue to control the company. Founder and Chief Executive Officer Nick Jones owns a minority stake, as does board member Richard Caring, who first invested in 2008.\nThe company set aside a portion of its IPO shares for its employees and members in the U.K. and the U.S. in a program it’s calling the “Community Offer.”\nThe offering is being led by JPMorgan Chase & Co., Morgan Stanley and $Bank of America Corp(BAC-N)$. The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol MCG.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":41,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}