Soho House One Step Closer to Going Public on New York Stock Exchange
Photo Credit: The parent company of Soho House (pictured: Soho Beach House in Miami) filed plans Monday for an initial public offering on the New York Stock Exchange. Flickr / Ines Hegedus-Garcia
Skift Take
Soho House's push for an initial public offering puts a lot of stock around the idea that more customers want some degree of exclusivity following the pandemic.
The parent company behind Soho House, the global chain of members-only clubs, put months of speculation to rest Monday by officially filing plans to go public.
The company plans to list on the New York Stock Exchange under the name Membership Collective Group and symbol "MCG," according to a filing with the U.S. Securities and Exchange Commission. While the filing indicates plans to raise as much as $100 million in the process, that figure is typically a placeholder on initial public offerings. There was no mention of how many shares would be offered.
Soho House founder Nick Jones indicated the IPO would help with further growth for the company, which has 30 clubs around the world, according to the company website.
“After 25 years, we now find ourselves in the position of being a global platform for our memberships. I’m incredibly proud of how we’ve grown memberships for social, work, and retail under Soho House, and have evolved our platforms to create new opportunities
