Soho Houses prepares for New York IPO

One of the properties in the Membership Collective Group.

The owner of the Soho House chain of private members clubs has announced plans to take the company public.

The company will list on the New York Stock Exchange under the name Membership Collective Group, according to a filing with the U.S. Securities and Exchange Commission.

The filing suggests the company is looking to raise up to $100 million, but the figure is typically just a placeholder.

“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 to members seen by the news agency Reuters.

“This move will enable us to accelerate our investment in improving both the physical and digital elements of your membership.”

The membership collective opened its first property in 1995 and the group now includes 28 Soho Houses, 9 Soho Works, The Ned in London, Scorpios Beach Club in Mykonos and the Soho Home retail brand.

In 2019 the company raised $100 million, valuing it at around $2 billion.