Ocado to float on stock market - graduate jobs

Graduates hunting retail jobs will be interested to hear of online supermarket Ocado's plans to debut on the stock market as part of an ambitious expansion scheme.

Ocado's shares will be priced between 200p and 275p each, valuing the group at about £1.18 billion. The company will send out a prospectus and begin an investor roadshow before its flotation later in June.

Employees and customers of the company who have spent more than £300 with the business so far this year will be able to take part in a shares offer up to the end of July 18.

It is thought that the listing will put Ocado in the FTSE 250 Index and make paper fortunes for its founders, former Goldman Sachs bankers Tim Steiner, Jason Gissing and Jonathan Faiman, and management, who own 13.3% of the business combined.

Ocado wants to raise £200 million by selling new shares as part of the initial public offering to help expand its distribution centre and build a second warehouse. But the firm, which delivers Waitrose food, has never made a profit since launch more than 10 years ago.

Around 15 top bosses at Ocado are to take part in a share ownership scheme, which could reportedly pay out £30 million within four years if they double the share price.