Boohoo bounces onto Aim as shares hit 85p
It's the first day of trading for online fashion retailer Boohoo.com, and shared are surging.
Making its debut on London's Aim, shares opened at 85p – well above the offer price of 50p. Shares are currently trading around 78p.
The firm raised £300m through its initial public offering, and is the third UK retailer to list shares this week – it follows Poundland and Pets at Home.
Analyst Nick Bubb, a retail analyst, comments:
Shares [are] trading around the 80p mark, which puts the market cap at around £900m, up with the likes of Halfords, Debenhams and Ted Baker.