LONDON, June 21 (Reuters) - The Soho House private members club plans an initial public offering in New York under the name of Membership Collective Group Inc. to raise up to $100 million.
"Soho House has begun the process for an initial public offering on the New York Stock Exchange, with plans to list a company that will be known as the Membership Collective Group Inc., or MCG for short," founder Nick Jones said in an email seen by Reuters.
"This move will enable us to accelerate our investment in improving both the physical and digital elements of your membership," he said.
J.P.Morgan and Morgan Stanley will serve as joint lead book runners for the proposed offering. Goldman Sachs, Bank of America and HSBC will be joint book runners. Citibank and William Blair will serve as a co-managers.
MCG began operating as Soho House in 1995 and now has members across physical and digital spaces, including Soho Houses, The Ned in London as well as Scorpios Beach Club in Mykonos.
As of April 4, the group had over 119,000 members.
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