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Nord Anglia - Leapfrog flotation should highlight under-valuation

May 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • NAE
The good news coming from Nord Anglia that its subsidiary, Princess Christian Nurseries, has opened its twenty-first nursery, was ignored by the market. Last August, Nord almost doubled in size when it acquired the Bright Horizons chain of ten nurseries. Nord has now completed their integration and all have been branded Princess Christian. Leapfrog Day Nurseries plans to float later thismonth to raise £30m through Robert W. Baird to pay down debt. This isexpected to value the 34-strong chain of day nurseries at £70m. Salesin the year to 31 March were £10m although 21 of its units are undertwo years old. The Leapfrog debutis likely to further underline the attractions of Nord and may pav ...

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