IPOs

Luxury social club operator Membership Collective prices IPO at $14 low end

Membership Collective Group, which operates members-only luxury hotels and clubs under the Soho House brand, raised $420 million by offering 30 million shares at $14, the low end of the range of $14 to $16.

Membership Collective Group offers memberships to a global collection of restaurants and social clubs. The company's core spaces are known as Soho Houses, which are designed to be creative, collaborative spaces for writers, artists, performers, founders, directors, designers, and producers. The membership of each Soho House is selected by a committee of influential creatives and innovators that represent the local area. Membership Collective Group also offers other spaces such as the work-oriented Soho Works, The Ned in London, and Scorpios Beach Club in Mykonos.

Membership Collective Group plans to list on the NYSE under the symbol MCG. J.P. Morgan, Morgan Stanley, Goldman Sachs, BofA Securities, and HSBC acted as joint bookrunners on the deal.

The article Luxury social club operator Membership Collective prices IPO at $14 low end originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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